Pune I-T Dept 1st in India to reach 75 pc collection target

Sushant Ranjan
Thursday, 18 January 2018

Shukla said, “The direct tax collections till January 16 continued to register a steady growth and the net of refunds stands at Rs 37,310.50 crore, which is 23.98 per cent higher than the net collections for the corresponding period last year."

PUNE: The Pune Region of the Income Tax (I-T) Department is the first in the country to reach 75 per cent of the total budget estimate of direct taxes for the financial year 2017-2018, said AC Shukla, Principal Chief Commissioner of Income Tax, Pune Region, on Thursday while interacting with the media.

Shukla said, “The direct tax collections till January 16 continued to register a steady growth and the net of refunds stands at Rs 37,310.50 crore, which is 23.98 per cent higher than the net collections for the corresponding period last year. This collection is 75.07 per cent of the total budget estimate of direct taxes for the financial year (FY) 2017-18 set for Pune region.”

“Pune has also recorded the highest growth in corporate tax collection. The growth rate for this tax is 26.68 per cent for Pune, which is the highest growth rate among all regions in the country,” said Shukla. Pune has recorded the second highest growth, both in gross and net collections, in the country. “This success is mainly because tax payers are complying with the law,” he said.

“The department has been conducting a large number of tax education programmes, which have resulted in an enhanced voluntary compliance. Also, efforts have been made by the department to bridge the trust deficit between tax payers and the department,” he added.

He said that wherever bank account deposits are not in sync with the tax profile, a survey has been initiated. 

“In 2017-18, the department conducted 220 surveys and income amounting to Rs 500 crore was detected,” he added. 

Overall, Pune ranks 5th in terms of contribution to the nation’s tax kitty. This year’s target is Rs 49,697 crore. This corresponds to a little over 5 per cent of the country’s overall direct tax collection target of Rs 9.8 lakh crore.

Gross Collection: (2016-17)    (2017-18, till January 17, 2018)    Total    Growth 
Corporate Tax: Rs 15,257cr    Rs 19,332 cr    Rs 35,521 cr        26.70 pc
Income Tax: Rs 35,521 cr    Rs 22,858 cr    Rs 42,190 cr        12.81 pc

Net Collection (2016-17)    (2017-18, till January 17, 2018)    Total    Growth
Corporate Tax: Rs 13,143 cr    Rs 17,351 cr    Rs 30,096 cr        32.02 pc
Income Tax: Rs 16,953 cr    Rs 20,004 cr    Rs 20,004 cr        18 pc

Advance Tax (2016-17)    (2017-18, till January 17, 2018)    Total    Growth
Corporate Tax: Rs 8,052 cr    Rs 9,846 cr    Rs12,685 cr        22.28 pc
Income Tax: Rs 4,633 cr    Rs 5,312 cr    Rs 5,312 cr        14.64 pc

Regular Tax (2016-17)    (2017-18, till January 17, 2018)    Total    Growth
Corporate Tax: Rs 446 cr    Rs 1,072 cr    Rs 1,040 cr        140.18 pc
Income Tax: Rs 593 cr    Rs 574 cr    Rs 1,647 cr         -3.12 pc

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