The Hindu : Andhra Pradesh / Hyderabad News : Income-Tax collections up in State

Online edition of India's National Newspaper
Thursday, May 17, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Income-Tax collections up in State

Special Correspondent

A sum of Rs. 10,198 crore was collected in 2006-07 as against Rs. 6,683 crore in the previous year

D.V. Dharmik

HYDERABAD: Income-Tax collections in the State have gone up by a staggering 65.5 per cent over last year, thanks to addition of a large number of new assesses and tax effect on account of declaration of additional income and detection of unaccounted income.

Chief Commissioner of Income-Tax D.V. Dharmik told a news conference here on Wednesday that the recovery was 112 per cent as compared two years ago when it was only Rs. 4,800 crore. A sum of Rs. 10,198 crore was collected from assesses in 2006-07 as against only Rs. 6,683 crore in the previous year.

He said simplification of tax procedures, increased awareness among people and expansion of reach also contributed to the receipts. The collections in April of the current financial year had already touched Rs. 509 crore as against Rs. 384 crore (33 per cent hike) over last year. An additional 1,28 lakh assesses were added last year.

Corporate sector

Mr. Dharmik also said corporate sector contributed Rs. 5,310 crore and individual assesses Rs. 4,621 crore to the receipts last year. He maintained that the State went up the ladder from the ninth to the fifth position in the country in terms of collections last year. New IT returns forms were introduced for individual assesses since Tuesday.

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