Hyderabad, Feb. 2 -- The income tax collection cost that the Income Tax (IT) department incurs in India is the lowest in the world, said Shishir Agarwal, chief commissioner of IT (Hyderabad) here on Thursday. He added that India spends 57 paise per Rs 100 of tax collected.

The IT commissioner added that the United Kingdom spends spends 73 paise, Japan 174 paise, Germany 135 paise, Canada 150 paise, and France 111 paise for every Rs 100 IT collected respectively. "The USA is the only country that spends less than us," stated Mr Agarwal, while addressing a Seminar hosted by theFTCCIon'Post Union Budget 2023-2024-Implication for Trade and Industries' in Hyderabad.

"I come from a department which people love to hate. No one wants us to visi...