Hyderabad: Principal chief commissioner of Income Tax department for Telangana and Andhra Pradesh I. Suresh Babu said on Thursday that collections had exceeded the actual target during the financial year 2015-16.
He said that Rs 36,663 crore was collected towards income tax against the actual target Rs 36,251 crore, of that Rs 21,382 crore was collected from corporations and Rs 15,281 crore from others. Speaking at a press conference, Mr Suresh Babu revealed the budget collection figures and said that the growth rate was achieved despite shortfall in advance tax payment by top tax payers like NMDC, State Bank of Hyderabad and Andhra Bank to the extend Rs 2,042 crore compared to the previous financial year.
He said that TDS collections had increased by 18.7 per cent as the department collected Rs 17,662 crore in 2015-16 against Rs 14,877 crore in 2014-15. “This was achieved as the number of new taxpayers increased.
About 4,83,398 new taxpayers have been added up to February 2016 and the total number of assesses was recorded as 23,23,802, with an increase of 26.27 per cent in both Telangana and Andhra Pradesh,” he said.
Informing about the online TDS filing system, Mr Babu said that the percentage of online users had increased by 31.87 per cent. “In 2014-15, about 19,93,796 taxpayers submitted TDS online, and the figure increased to 26,29,269 in 2015-16. The growth rate in online submissions is nearly 5 per cent more than the national growth rate (26.83 per cent),” he added. He said that 37 searches and 37 survey operations had been conducted by the directorate of investigation.
“The teams found Rs 1,194 crore in searches towards undisclosed income admitted and detected. Rs 880 crore was found in surveys. The major sector where search operations were conducted was in pharma, mining, poultry, infrastructure and real estate; 36 cases were initiated for prosecution for non filing of returns and for willful evasion of taxes,” he said.
While explaining about new initiatives of the I-T department, Mr Babu said that many new taxpayer services had been introduced in the last year including Centralised Public Grievance Redress and Monitoring System (CPGRAMS), Issue of Refunds and Aaykar Seva Kendras (ASK).
“In the Union Budget 2016-17, tax payers were given many benefits. Under the income declaration scheme-2016, limited period compliance window for domestic taxpayers was initiated for declaring undisclosed income. Under the direct tax dispute resolution scheme-2016, one will able to appeal before the commissioner of income tax (appeals) for clearing pending disputes. Similarly, presumptive taxation scheme and e-assessment were also introduced,” he said.
Telangana trumps Andhra Pradesh in IT collection; Andhra Pradesh industries don’t pay taxes
Telangana was ahead of Andhra Pradesh in income tax collection in the last financial year.
The growth rate in income tax in Telangana was 16.64 per cent against 7.07 per cent in Andhra Pradesh. About, Rs 32,331 crore was collected in Telangana in 2015-16 against Rs 27,770 crore in 2014-15. In AP, Rs 4,332 crore was collected in 2015-16 against Rs 4,046 crore in the previous year.
Principal chief commissioner of Income Tax for TS and Andhra Pradesh, I. Suresh Babu, said that since many industries including pharma, IT, infrastructure and real estate were located in Telangana, the state received more taxes.
“Without Hyderabad, there is no existence of the Income Tax department. This time, major industries like Rashtriya Ispat Nigam Limited (RINL) and Vizag Port Trust in Andhra Pradesh have not paid taxes,” he said.
