The Chandigarh divisions of the Income Tax department, with jurisdiction over Chandigarh city, old Ropar district and some parts of Mohali has seen a 25 per cent increase in tax returns for the year 2006 over last year. The figures are astounding as there has been just 5 per cent increase in new tax payers this fiscal. While Rs 450 crore was generated as income tax return in 2005, the figure for 2006 had shot up to Rs 575 crore.
About 2.2 lakh people paid this amount in the governments coffers. Joint Commissioner Income Tax, M S Bhatia, said these figures indicate the growth in the economy. These figures speak volumes about the increasing prosperity in the region, he added.
I-T returns have always been an indicator of both the negative and positive growths of the region and barometers say the area is certainly doing well.
The Income Tax department also attribute the collection of the large revenue to departmental activism and various other awareness programmes launched by it.
In the whole North-West Region, comprising Punjab, Haryana, Himachal Pradesh, Uttaranchal, parts of Western UP and the UT Chandigarh, officials said about 21 lakh new people had been brought under the I-T net till the end of 2006. However, here too, there has been an increase of about 35 per cent in the total tax returns compared to 2005. Nearly Rs 4000 crore has been the total tax returns for last year.
Talking about the popularity of e-filing of returns, Bhatia said it is mandatory for companies to file there return through net although it is yet to catch up with individuals.
He also revealed it is usually the old tax payers who are making larger contributions to the income tax pool rather than the new ones.