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I-T 'boom': Rs 306 cr detected
April, 07th 2009

The economic downturn has apparently not affected the hidden income of people in the region. If anything, it seems to have increased it many times. Income-tax department claims to have detected undisclosed income amounting to Rs 306 crore during 2008-09 from UT and nearby areas.

The figure is nearly 400% of the Rs 80.60 crore detected in 136 I-T surveys of financial year 2007-08.

Officials said I-T department had registered an increase of 23.09% in tax collection from Chandigarh region and some parts of Patiala district. Detection of undisclosed income has also helped in increasing the number of assessees from the region, claimed income tax officials. Rs 2,438 crore were collected as income tax from the region as opposed to Rs 1,976.40, which was the target set for 2008-09, said official sources. Commissionerate of income-tax I and II (CIT-I and II) covering Chandigarh, Mohali and Zirakpur conducted the surveys, said north-western regions chief commissioner of income tax PK Chopra.

We collected Rs 10,275 crore as income-tax from the states of Punjab, Haryana, Himachal Pradesh and Chandigarh. Our target for the financial year was Rs 9,316 crore, he added. Chandigarh regions CIT-I GS Randhawa and CIT-II AK Kaushal headed 99 I-T surveys during the financial year ending March 31, said sources.

Major detections in the region were made during surveys of documents belonging to promoters of Zirakpur-based mall Paras Downtown, Preet Land Promoters and Developers, Alchemist Group, Hanumant Builders and JCB Group. Most of the surveys were carried out during the months of February and March. Income Tax department raids in Panchkula also led to detection of massive evasion. The raids targeted builders including AP Group and Motiaz Group. Premises connected to Devi Dayal Group of Colleges were also raided.

 
 
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