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A woman employee in the information technology industry has emerged the highest income tax payer in Andhra Pradesh and Telangana with about ₹10 crore (on a salary income of ₹30 crore) last year. The Central Board of Director Taxes, however, has refused to divulge the name of the tax payer.
Among the corporates, public sector NMDC continued to top the list. NMDC remitted ₹2,259 crore tax, followed by Andhra Bank with ₹475 crore, Amara Raja (₹237 crore), Bharat Dynamics Limited (₹168 crore) and Dr Reddy's ₹161 crore. As many as 17 companies paid taxes in excess of ₹100 crore.
Addressing a press conference here on Monday, SP Choudhury, Principal Chief Commissioner of Income Tax (Andhra Pradesh and Telangana), said that the region has emerged among the top-six regions in the country in tax collections growth rate. “We are targeting tax collections of ₹60,845 crore in 2018-19 against ₹49,775 crore in the previous year, showing a growth of 22 per cent,” he said.
While the corporate sector contributed ₹24,242 crore, individual I-T payers remitted ₹25,530 crore in 2017-18.
Tax collections growth
“We have added 8.13 lakh tax payers last year, taking the total to about 36 lakh in the two States,” he said.
He said the states have clocked a growth of 14.8 per cent in tax collections so far this year, which is way higher than the national average of 6.8 per cent.
Sector-wise breakup
The manufacturing sector contributed ₹2,889 crore in 2017-18 against ₹2,055 crore in the previous year. This was followed by the pharma sector with ₹2,035 crore (₹2,114 crore), banking ₹1,645 crore (₹1,213 crore) and IT and IT-enabled Services ₹1,440 crore (₹1,213 crore).
Income-Tax Day
All the units of Income Tax Department in the two States will celebrate the I-T Tax Day on Tuesday .
E S L Narasimhan, the Governor of Telangana and Andhra Pradesh, N Baijendra Kumar, Chairman and Managing Director of NMDC), K Satish Reddy, Chairman of Dr. Reddy's Labs, Ramachandra N. Galla, Chairman of Amara Raja Batteries, and V Uday Bhaskar, CMD of Bharath Dynamics Limited, will take part in the celebrations in Hyderabad.
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