Nation Current Affairs 25 Jul 2019 Income-tax collectio ...

Income-tax collection up by 82 per cent in Telugu states

DECCAN CHRONICLE.
Published Jul 25, 2019, 1:44 am IST
Updated Jul 25, 2019, 1:44 am IST
The increase in tax amount is directly proportionate to the increase in the number of tax payers.
Principal chief commissioner of income tax-AP and TS N. Sankaran said, The income tax collected in TS and AP for the  financial year 2018-19 amounts to Rs 58,404 crore, against the Rs 31,762 crore collected in 2014-15. (Representational image)
 Principal chief commissioner of income tax-AP and TS N. Sankaran said, The income tax collected in TS and AP for the financial year 2018-19 amounts to Rs 58,404 crore, against the Rs 31,762 crore collected in 2014-15. (Representational image)

Hyderabad: There is a significant growth in the total income tax collected in the states of Andhra Pradesh and Telangana. According to the Department of Income tax, the two Telugu speaking states recorded a steep rise of 82.73 per cent between financial year 2014-2015 and 2018-19.

Principal chief commissioner of income tax-AP and TS N. Sankaran said, “The income tax collected in TS and AP for the  financial year 2018-19 amounts to Rs 58,404 crore, against the Rs 31,762 crore collected in 2014-15. The tax collected has registered a growth of 82.73 per cent which is significantly high. Across India, the average increase in the tax collected is 63.5 per cent in a span of 5 years. Countrywide, Rs 11, 37, 685 crore has been collected as tax for the last financial year.”

 

The increase in tax amount is directly proportionate to the increase in the number of tax payers. “The government is continuously taking several initiatives to encourage a tax- compliance culture which would smoothen the process of paying tax,” added Mr Sankaran.

The Income tax department-AP and TS held its 159th income tax day celebrations on Wednesday.

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Location: India, Telangana, Hyderabad




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