This fiscal year, around 7211 persons have filed income of Rs 10 lakh and above as against 6011 persons in 2006-07. 

Tax-payers in AP are also increasing, with around 53,955 new tax-eligible people added to the tax department’s list during the first seven months of the current fiscal year. Moreover, the total number of Permanent Accounts in AP is 36 lakhs.

“Income tax collection in AP has increased by 40 percent (Rs 5, 922.44 crore this year) compared to Rs 4,250 crore in the corresponding period last year,” said S Lahiri, Hyderabad’s Chief Commissioner of Income Tax.
According to him, the Central Board of Direct Taxes had set a budget collection target of Rs 11,623 crore in AP for the current financial year. “The performance so far has been impressive,” he said.

He said another achievement is the increase in corporate tax collection by 28 per cent, mainly due to taxes paid by the National Mineral Development Corporation (Rs 450 crore), Rashtriya Ispat Nigam Ltd (Rs 282 crore), State Bank of Hyderabad (Rs 112.50 crore) and Andhra Bank (Rs 92 crore).