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K’taka third largest contributor to India’s tax kitty

Last Updated 24 July 2018, 16:19 IST

Karnataka is the third largest contributor to India’s tax collection after the states of Maharashtra and Delhi, said Karnataka and Goa Chief Commissioner of Income Tax B R Balakrishnan.

Speaking at the 158th Income Tax Day Celebrations organised by the Income Tax Department Karnataka and Goa on Tuesday, Balakrishnan said that Karnataka collected a total of Rs 1,23,000 crore in income tax in the country during the last fiscal year.

“Karnataka has a total 22 lakh tax assesses. There is a 30% growth in the individual taxpayers, and they contributed Rs 6.8 crore, registering a growth of 26% in total tax collected. We also have nine lakh companies and it registered a growth of 17% during the last assessment year,”Balakrishnan said.

The commissioner pointed out that the expanded tax collection gave Rs 2,000 crore to the state government. “The state will get more money henceforth, as the state tax base is increasing,” he said.

Balakrishnan said the department will make aggressive measures and avail technology to increase the tax compliance in the state.

“The Income Tax Department initiative Project Insight is using artificial intelligence to further enhance the tax evasion in the state,” Balakrishnan told the gathering.

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(Published 24 July 2018, 15:49 IST)

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