The Income Tax Department in Andhra Pradesh has set a record by collecting Rs 7301 crore tax by February which is 49 per cent more than last year (Rs 4,900 crore). Percentage-wise, it is the highest in the country.
Apart from regular sources of tax, this year the department could get Rs 65 crore from realtors and Rs 38 crore from civil contractors as tax.
Booming economy, reaching out to tax payers and "persuading" compliance did the trick for the department. Apart from regular sources of tax, this year the department could get Rs 65 crore from realtors and Rs 38 crore from civil contractors as tax. The department officials conducted 78 surveys on realtors and found that they had undisclosed income of Rs 191 crore.Similarly, the number of surveys conducted on contractors was 25 who had undisclosed income of Rs 103 crore. The National Mineral Development Corporation (NMDC) stood first in payment of highest amount of tax (Rs 884 crore) till Feb this year out of its total tax commitment of Rs 1,200 payable by March. The second highest amount of tax - Rs.269 crore - was paid by the Visakhapatnam Steel Plant (VSP).
In the State, the individual who has paid the highest tax is N Prasad, Chairman and Managing director of Matrix Laboratories. "He has paid Rs 26.4 crore which includes the tax on his March salary too," Income Tax Chief Commissioner D V Dharmik told reporters here on Thursday.
He said that his department would launch criminal prosecution against tax defaulters (15 cases) for concealment of income and furnishing inaccurate details. In seven cases, prosecution proceedings were launched last financial year itself.
Further, in 20 cases, show cause notices have been issued to the deductors of tax who have failed to remit the TDS amount to the Central government account within the prescribed time. Their offences had been compounded and a fee of Rs 58.6 lakh (11 cases) has been collected till Feb as against Rs 11 lakh (four cases) last year.
Source: The Hindu
