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Gujarat among top 5 in growth
May, 23rd 2016

In terms of direct tax collections, Gujarat has recorded the fifth highest growth among states across the country in financial year 2014-15 over the previous year. According to data released by income tax department on its website; Gujarat registered a growth of 24.76% in direct taxes collections in 2014-15 over that of 2013-14.

In the same period, Mizoram, Andaman & Nicobar, Sikkim and Himachal Pradesh recorded growth in direct tax collection of 123.53%, 76.8%, 57.68% and 25.88% respectively. At the same time, the national average stood at 8.9%.

Gujarat recorded collections of Rs35, 912.46 crore in 2014-15 against Rs 8,783.9 crore in 2013-14. Interestingly, Gujarat remained ahead of all big and industrialized states such as Maharashtra, Karnataka, Tamil Nadu and Andh ra Pradesh among others.

The income tax department on Friday released the data of last 16 years of direct taxes collection in the country and state-wise data from 2008-09 to 2014-15.

From 2008-09 to 2014-15 Gujarat's direct taxes collections jumped from Rs12,577.3 crore to Rs35,912.46 crore, a growth of 185.5%. In the same period, Sikkim recorded a staggering 1009% growth from Rs29.2 crore to Rs323.88 crore.

There are total 10 categories of income tax assessees in India. This includes individuals, corporates, trusts, local authorities, government, partnership firms, Hindu Undivided Family (HUF), body of individuals, association of persons and artificial juridical person.

Until 2014-15, direct taxes included income tax, wealth tax and some other taxes. Last year from April, wealth tax was abolished.

Maharashtra is the biggest contributor to the Indian government's income tax collections. The state contributed Rs2, 77,720.11 crore, or about 40 per cent, of the total Rs6,95,788.85 crore income tax collection, in financial year 2014-15.

Overall, the number of income tax payees declined to 5.17 crore (provisional) in financial year 2013-14 (assessment year 2014-15) from 5.21 crore in the previous financial year.

 
 
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