Industry & Economy
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Taxation
Vizag I-T Dept nearing target
Our Bureau
Visakhapatnam
,
Dec. 23
THE Visakhapatnam region of the Income Tax Department is on course to achieve the target of Rs 834 crore set for it during the current financial year and till now Rs 507 crore has been collected, according to Mr Prashant Gupta, the Chief Commissioner of Income Tax.
He said at a press meet here on Thursday that the region, comprising Srikakulam, Visakhapatnam, Vizianagaram and the two Godavari districts, had been set a steep target. "Last year, against the target of Rs 515 crore we collected Rs 534 crore. The target had been hiked by 62 per cent in the region against the all-India average of 35 per cent. Still, we are confident of achieving the target, due to the upswing in economy," he said. During the current financial year, the State had been set a target of Rs 6,400 crore, he said. Last year, Rs 1,31,000 crore was collected as income tax in the country and the target for the current year had been set at Rs 1,76,800 crore, he said.
He said the refunds in the region were also prompt and from April to November Rs 134.49 crore had been refunded to the assessees.
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