Finance Minister Arun Jaitley has expressed confidence that direct tax collection would exceed budget target of 7.36 lakh crore rupees in the current financial year. Addressing the 30th annual conference of Principal Chief Commissioners and other senior officials of Income Tax department in New Delhi today, Mr Jaitley said that credibility of the department is its greatest asset and as such highest standards of ethics are expected from the officers. He said that the Government is making full efforts to bring back the black money stashed abroad. The Finance Minister asked the senior officers to focus on unearthing black money within the country which is also quite large. Earlier addressing the conference, Revenue Secretary Shaktikanta Das asked senior officers to find innovative means to achieve revenue targets and work in a non-adversarial and non- intrusive manner.He said the officers of the income tax department should work as a facilitator and achieve targets by using fair and transparent means. The Revenue Secretary said the officers and staff should make efforts to reduce tax arrears which are to the tune of 4 lakh crore rupees.During the two day conference, the heads of different wings of direct taxes in the country will discuss the strategies for revenue collection, transfer pricing issues in business restructuring involving multinational corporations, international taxation and arrears management among others.