Press Esc to close
Friday 22 September 2017
News updated at 3:56 AM IST

I-T Dept achieves collection targets

Bengaluru, March 21, 2017, DHNS: 23:52 IST
Out of the net collection Rs 48,062 crore has been collected from corporations, while Rs 37,504 crore has been collected from individual taxpayers, showing a growth of 18% and 28%, respectively. File photo

Out of the net collection Rs 48,062 crore has been collected from corporations, while Rs 37,504 crore has been collected from individual taxpayers, showing a growth of 18% and 28%, respectively. File photo

The Income Tax Department - Karnataka and Goa Region has achieved its collection target for fiscal year 2016-17, well before the closing of the year on March 31. The department achieved the target on March 16, which was set at Rs 85,478 crore. The tax collection stands Rs 86,230 as on March 20, 2017, which is 0.9% over the targets set by the department. The gross collection on the date increased 29% to Rs 98,916 crore, with refunds increasing by 103% to Rs 12,687 crore.

Out of the net collection Rs 48,062 crore has been collected from corporations, while Rs 37,504 crore has been collected from individual taxpayers, showing a growth of 18% and 28%, respectively.

“It has been for the first time in the country or the region that the target for the year has been achieved so early. One of the reasons behind it is the increase in tax compliance,” said Nutan Wodeyar, Principal Chief Commissioner of Income Tax - Karnataka and Goa Region.

The amount also includes the receipts from the government Income Declaration Scheme (IDS), which amounted to about Rs 450 crore. “The amount from the IDS has marginally contributed to the collections,” Nutan added. In the various raids conducted by the department post demonetisation, leading to unearthing of undeclared income worth Rs 4,828 from 73 groups.

Go to Top

Photo Gallery
Vehicles wade through a flooded road after heavy rains in Thane district of Maharashtra on...

Vehicles wade through a flooded road after heavy rains in Thane district of Maharashtra on...

Real Madrid's Cristiano Ronaldo closes his eyes during Spanish the La Liga soccer match between...

Real Madrid's Cristiano Ronaldo closes his eyes during Spanish the La Liga soccer match between...

A woman covers herself with a plastic bag as she makes her way to work as Hurricane Maria...

A woman covers herself with a plastic bag as she makes her way to work as Hurricane Maria...

An artisan applies finishing touches on an idol of the Hindu goddess Durga, before it is...

An artisan applies finishing touches on an idol of the Hindu goddess Durga, before it is...

Bollywood actress Nidhhi Agerwal showcases a creation by designer Rajat K Tangri during the...

Bollywood actress Nidhhi Agerwal showcases a creation by designer Rajat K Tangri during the...

People pushing a car at a waterlogged road after heavy rains in Varanasi on Thursday...

People pushing a car at a waterlogged road after heavy rains in Varanasi on Thursday...

Policemen guard outside former chief minister S M Krishna's son in-law Siddartha's corporate ...

Policemen guard outside former chief minister S M Krishna's son in-law Siddartha's corporate ...

Indian players celebrate the dismissal of Australia's David Warner...

Indian players celebrate the dismissal of Australia's David Warner...

Actor Kamal Haasan with Aam Aadmi Party (AAP) chief and Delhi Chief Minister Arvind Kejriwal...

Actor Kamal Haasan with Aam Aadmi Party (AAP) chief and Delhi Chief Minister Arvind Kejriwal...

A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

A man is rescued from a collapsed building in the Condesa neighborhood of Mexico City after an...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.