Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season

I-T collections see 112% growth in two years
May, 19th 2007
Andhra Pradesh moves up to fifth slot in mop-up

The Income-Tax Department in Andhra Pradesh has registered a record growth rate of 112 per cent in collections in two years with the total collections going up to Rs 10,198 crore in 2006-07 from as against Rs 4,800 crore two years ago. Last year, the Department's collections stood at Rs 6,683 crore.

Thanks to the huge growth, the State's rank in income tax collections has shot up to fifth position from last year's ninth.

Addressing a press conference here on Wednesday, Mr D.V. Dharmik, Chief Commissioner (Hyderabad-I), said the share of corporate tax went up to Rs 5,310 crore this year from Rs 4,350 crore last year, an increase of 51 per cent.

Individual income tax collections were Rs 4,621 crore (Rs 2,363 crore), showing a growth of 48 per cent. Mr Dharmik attributed reach and awareness to the growth in income tax collections this year.

The public sector National Mineral Development Corporation continued to top the list of corporate taxpayers with a contribution of Rs 1,149 crore.

The Fringe Benefit Taxcontribution stood at Rs 230 crore, while share transaction tax chipped in Rs 2 crore and cash transaction taxes Rs 21 crore.

An amendment made in Finance Act 2007 required charitable or religious trusts or institutions, which failed to submit the required form within one year of its creation, to file it by May 31 to avail themselves condonation of delay for earlier years.

"Applications filed on or after June 1 will entitle the applicant to claim exemption of income from the financial year in which the application is filed," he said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting