Pune region tops in tax collection

Rujuta Parekh
Thursday, 14 September 2017

Pune: The Pune region has achieved first rank in the country in terms of achieving gross and net tax collection growth in the last year. While the gross tax collection for the region grew by 20 per cent over the last financial year, the net collection growth recorded stood at 22.5 per cent. 

According to Principal Chief Commissioner of Income Tax, Pune region, AC Shukla, the Pune region is doing very well in terms of tax collection. “The rate of growth of gross tax collection nationally is 10 per cent while for net tax collection it is 17 per cent.

Pune: The Pune region has achieved first rank in the country in terms of achieving gross and net tax collection growth in the last year. While the gross tax collection for the region grew by 20 per cent over the last financial year, the net collection growth recorded stood at 22.5 per cent. 

According to Principal Chief Commissioner of Income Tax, Pune region, AC Shukla, the Pune region is doing very well in terms of tax collection. “The rate of growth of gross tax collection nationally is 10 per cent while for net tax collection it is 17 per cent.

However, Pune has achieved higher growth. The net tax collection from Pune region in the year 2016-17 stood at Rs 42,288 crore while the target for the financial year 2017-18 is Rs 49,500 crore, leading to a 22 per cent growth,” he said. 

He added that despite the slowdown in various sectors, there has not been too much of an impact on the advance tax collected for this financial year. 

According to Shukla, the Pune region has registered nearly 8.44 lakh new assessees this year as a result of Income Declaration Scheme and demonetisation.  

Shukla has urged citizens to abide by the law and pay liable advance taxes to avoid interest or prosecution. “People must come forward and pay their advance tax liability till September 15. Using data analytics, we will be able to identify persons evading taxes and notices will be given out in this regard,” he added. 

He also cautioned nearly 5,000 companies from the region to deposit the tax deducted at source (TDS) as per the law. “We have seen instances wherein TDS is deducted from salaries of employees but it is not deposited and instead used for other reasons. Those who are engaged in such practices will face civil imprisonment. I have instructed all the officials to directly prosecute those utilising the TDS sum for other reasons,” Shukla added. 

Demonetisation a success?
Speaking at the national level, Shukla said that there has been a phenomenal rise in the collection of advance tax. “While the normal annual growth in advance tax is between 15 to 20 per cent, this year it has grown by 43 per cent. This can be viewed as the success of demonetisation,” he stated.

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