I-T surpasses tax collection target by Rs 100 crore

The Income Tax Department has collected a tax of Rs 2,344 crore from Ludhiana city in 2011-12 against the set target of Rs 2,248 crore.

Written by Raakhi Jagga | Ludhiana | Published:May 4, 2012 12:09 am

The Income Tax Department has collected a tax of Rs 2,344 crore from Ludhiana city in 2011-12 against the set target of Rs 2,248 crore.

G S Randhawa,Chief Commissioner Income Tax (CCIT),said they had surpassed the target by around Rs 100 crore. This,despite the fact that all the textile/yarn industries,which form a prominent part of the overall industrial sector,suffered huge losses and the profitability was minimal or nil which resulted in little payment of taxes or in some cases no payment of tax at all. The increase in budget collection viz-a-viz last year was 9 per cent,he added.

The target given by the Central Board of Direct Taxes,New Delhi,for cash collection out of arrear demand was Rs 75.38 cr which was exceeded since the actual cash collection made in this category was Rs 76.40 cr.

The CCIT said refunds of Rs 397.9 crore had been issued upto March 31 this year as against Rs 313.7 cr for the same period in the last financial year. This implied that in spite of an increase of 27 per cent in the amount of refunds issued,the net collection went up by 9 per cent viz-a-viz the previous year.

The Chief Commissioner of Income Tax,Ludhiana,has jurisdiction over the districts of Ludhiana,Jalandhar,Kapurthala,Moga,Hoshiarpur and Nawanshahr and also has offices besides the aforementioned at Jagraon,Phagwara,Khanna,Malerkota,Nakodar and Dasua.

For all the latest Cities News, download Indian Express App

  1. No Comments.