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AP, Telangana set record in IT collection
The Principle Chief Commissioner of Income Tax of Andhra Pradesh and Telangana I Suresh Babu said that the AP and TS have achieved a record collection of revenue during the last financial year.
Visakhapatnam: The Principle Chief Commissioner of Income Tax of Andhra Pradesh and Telangana I Suresh Babu said that the AP and TS have achieved a record collection of revenue during the last financial year.
- I-T Commissioner I Suresh Babu says both States together collected Rs 36,665 crore against target of Rs 36,250 crore
- Claims the dept conducted raids on business houses and detained unaccounted income of Rs 349 crore in 153 cases
- Urges people to utilise one-time income disclosure scheme to be launched in June and rules out prosecution against them
Both the States together collected of Rs. 36, 665 crore as against the target of Rs. 36, 250 crore during the 2015-16 fiscal year. Talking to reporters here on Monday after inaugurating the Income Tax office at Sankaramatham road, the commissioner said Visakhapatnam region had collected an excess amount of Rs 514 crore, registering a growth of 27.4 per cent as compared to previous financial year, against the budget target of Rs 3,867 crore.
It had achieved a collection of Rs. 4,381 crore comprising of corporate tax Rs. 1,270 crore and Income tax of Rs. 3,111 crore. He said the region had 4.5 lakh tax payers out of which about 32, 800 had filed their returns manually and 4,05,700 online. As per the statistics, 1.69 lakh new tax payers would be filing their returns this year.
He said during the 2015-16 fiscal, the department had conducted raids on business houses and about 153 cases spread over the five coastal districts in the region and detained unaccounted or undisclosed income of Rs 349 crore with effective tax of Rs. 105.52 crore.
Three Ayakar Seva Kendras (ASKs) were established in Tanuku, Eluru in West Godavari and Anakapalli in Visakhapatnam districts apart from the existing centre at Srikakulam, Visakhapatnam, Rajahmundry and Bhimavaram.
He said the new income tax office at Sankaramtham road would house two range offices and other field offices and staff training unit. The Income Tax department had introduced a window for income disclosures scheme this year which could be implemented from June.
Under this scheme, tax payers can disclose their assets which were not disclosed till date with a penalty of only 15 per cent. They will not be prosecuted, he said.
