The Income Tax Commissionerate’s Pune unit has recorded the second highest growth in terms of collection of gross and net taxes in the country. The region has, however, recorded the highest growth in corporate tax collection in the country, Principal Chief Commissioner A C Shukla told mediapersons in Pune on Thursday.
Pune has recorded the highest growth in corporate tax collection, with the current year’s growth rate at 26.70 per cent, said Shukla. The region has recorded a gross corporate tax collection of Rs 15,257.60 crore for the financial year 2016-17, and till January 17, 2018, the collections stood at Rs 19,332.00 crore.
“Till about January 15, the Pune charge has achieved 75 per cent of the tax collection target… the national average is around 69 per cent,” said Shukla. Direct tax collections in Pune region, till January 16, stood at Rs 37,310.50 crore, 23.98 per cent higher than the net collections of the last financial year. Pune’s contribution to the tax collected from across the country has increased from 4.4 per cent to 5.5 per cent for the current financial year, said Shukla.
In terms of cash collection out of arrears demand, Pune is the first region in the country to achieve a 100 per cent target, collecting Rs 13,143 crore. Other than corporate taxes, the collection of personal income tax has also grown by 12.81 per cent, which is, however, lower than the national growth rate of 16.44 per cent. So, the gross collections in terms of personal income tax stood at Rs 22,858.30 crore, as against the Rs 20,263.50 crore collected in the last financial year.
In terms of advance tax collection, the region has reported growth in both corporate and personal income tax. The region has reported Rs 9,846.19 crore in corporate tax collection, as against Rs 8,052.20 crore collected in the last financial year, a growth of 22.28 per cent.
Similarly, till date, Rs 5,312.20 crore has been collected in personal income tax this year, as against the Rs 4,633.70 crore reported in the last financial year. This year, the income tax department has conducted 220 surveys and discovered undisclosed income worth Rs 500 crore in Pune, said Shukla.