Income Tax department in Rajasthan has collected about 33 per cent more tax during FY 2007-08 as compared to last year, both from the corporate and salaried tax payers, with major collection received from five power companies for the first time, official sources said on Tuesday.
IT department made net tax collection of Rs 4,943.7 crore in FY 2007-08 as against Rs 4,373.1 crore in previous year (2006-07) through advance taxes, TDS, self-assessment, regular assessment, surcharge tax and other heads, the sources said.
For the first time the Chief Commissioner of IT (Jaipur) was able to get TDS worth Rs 40.31 crore from the five power companies in Rajasthan specially on supply part of the power projects in the stipulated year 2007-08, the sources said.
Till now the five companies were not agreeing with their own charted accountant's reports to pay any TDS, but after pushing the matter, the CCIT-Jaipur received TDS for the first time, they said.
Of the total IT collection, a major hike in IT collection was observed in TDS (tax deducted at source) category wherein a sum of Rs 1,644.7 crore was received in FY 2007-08 as against Rs 1,102.1 crore in FY 2006-07.
Despite better IT recovery, the IT refund amount was also risen from Rs 496.8 crore to Rs 696.7 crore in the said years.
All India total tax collection stood at Rs 3,09,064.1 crore in 2007-08 as against Rs 2,24,282.9 crore in previous fiscal.