« Top Headlines » Open DEMAT Account in 24 hrs  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80 «  Gas-related gyan for accountants... Simpler procedures will reduce litigation... » Income Tax collection in Pune pegged at Rs 8,000 crore December, 13th 2006 Income tax collections in the Pune zone have shown a robust growth on the back of improved performance of the corporate sector and a selective and effective enforcement strategy adopted by the tax authorities.    Chief commissioner of income tax, Pune, Santosh Datta said on Tuesday that the income tax collection for the current assessment year (2006-07) was pegged at Rs 8000 crore as compared with Rs 6700 crore collected during the last year (2005-06).    The targeted Rs 4150 tax collection was achieved at the end of November 2006 and the department is actually hoping to exceed the target by the end of the year, according to Datta.    The next instalment of advance tax is due in the next couple of days and the department is planning stricter action against those avoiding payment of advance tax and instead pay tax on self assessment basis at the time of filing the annual return.    Datta said there was an all-round increase in the economic activity in the Pune region, as corporate tax collection targeted for this year was Rs 3956 crore against Rs 3570 crore corporate tax collected last year.    Higher growth is also expected on the personal income tax front in Pune as the figure is pegged at Rs 4458 crore as against Rs 3140 collected last year.    Datta said the change in strategy for the surveys, search and seizure method to unearth undeclared income had showed results as the 170 surveys conducted by the department brought to light undeclared income of over rs 100 crore as compared with Rs 48 crore of undeclared income detected in 260 surveys last year.    On the search and seizure side, the department conducted 40 such actions to detect Rs 134 crore concealed income as against detection of concealed income of Rs 68 crore out of 24 actions last year, he said.    Datta did not disclose the exact implications of the modified detection strategy but indicated that very low profit figures on high turnovers was among the pointers for the department to look into the cases.    Also the wrongly claimed deductions under sections 80 (i) (a) and 80 (i) (b) in respect of incentives available to the builders and developers were brought under scanner, he said.