Our Bureau

Bangalore, Dec. 13

THE Bangalore region has emerged as the third largest centre for income tax collections after Mumbai and Delhi.

Briefing reporters here on the performance of the region, the Chief Commissioner of Income-Tax, Bangalore, Mr J.K. Rao, said that tax collections in the region during the current fiscal amounted to Rs 15,194 crore. During the corresponding period of the last fiscal the collections were Rs 11,000 crore, he added.

He said that among the major contributors to the tax kitty from the region was the banking sector, followed by the mining sector, he added. However, he said if the closure of the Kudremukh Iron Corporation Ltd is effected, then the region would stand to lose about Rs 110 crore annually, he added.

The Bangalore region, which also included Goa, had 18.67 lakh tax assesses, he said. Referring to enforcement, Mr Rao said all high value transactions were being tracked. Therefore he said, it was easy to ascertain if incomes were being understated, he added.

(This article was published in the Business Line print edition dated December 14, 2005)
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