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The Income-Tax Department needs to ensure that it collects taxes in time and does not leave arrears at the end of the year, urged Mr Surjit Singh Barnala, Governor of Tamil Nadu on Sunday.
Speaking at an event to celebrate 150 years of the Income-Tax Department in the country, Mr Barnala also advised the department to enhance and ease the system of tax payments, address grievances of tax payers and dispose cases, appeals and refund claims quickly.
He said that tax payers too should “change their attitude towards tax obligations through great compliance.”
In 1860 when the income-tax was introduced, the collections were around Rs 30 lakh. Today, it has grown to around Rs 4,46,000 crore and is said to cross Rs 5 lakh core this year. Tamil Nadu achieved a collection of Rs 29,370 crore for the financial year ending March 31, 2011. Mr V. Murali, Chartered Accountant, and Chairman, Board of Studies, ICAI, said working in a Government department such as Income-Tax brings a sense of “contribution to the economy and participation in social welfare.”
The event also honoured leading tax payers in the State. Mr Lakshmi Narayanan, Vice-Chairman, Cognizant, was recognised as the highest individual tax payer in Tamil Nadu.
Salem District Cooperative Bank was the largest non-corporate tax payer, while Shriram Transport was the largest tax-payer in the corporate category.
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