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Our Bureau

Hyderabad March 8 The Income Tax Department has registered collections to the tune of Rs 7,301 crore up to February 2007 in Andhra Pradesh as against Rs 4,900 crore in the corresponding period last year, showing a growth of 49 per cent.

This formed 75 per cent of the total target of Rs 9,685 crore for the whole year. "We are hopeful of meeting the target as the deadline for payment of advance tax is due on March 15," Mr D.V. Dharmik, Chief Commissioner of I-T (Hyderabad-I), said.

Addressing a press conference here on Thursday, he attributed the huge growth rate to a number of surveys and searches the department undertook this year. Special drives to reach out to people and stepped up scrutiny too helped.

Higher returns

The number of returns went up to 12.61 lakh up to February 2007, as against 11.93 lakh, showing a growth of six per cent. The number of high-income individuals too showed a sharp increase. The department added 99,404 assessees (77,852) this year, registering a growth of 28 per cent.

The department conducted 803 surveys, mostly on realtors, that resulted in detection of an additional income of Rs 282 crore with a tax effect of Rs 109 crore. It was realtors who topped this list with a total undisclosed income of Rs 191 crore that had a tax effect of 65 crore.

The surveys were aimed at exposing concealed income and checking out proper TDS (tax deducted at source) operations. These operations were specifically targeted at builders, real estate agents, jewellers, contractors, traders and those in finance business.

Mr Dharmik, however, refused to divulge the names of individuals and agencies that violated the laws. "We will initiate legal action in 15 cases for defaulters," he said.

More Stories on : Taxation | Andhra Pradesh

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