CORPORATE HOUSES pay handsome income tax

Ludhiana, February 6, 2013: Ludhiana Income Tax Commissionerate comprising of the districts of Ludhiana and Jalandhar did collection of tax worth Rs. 1,930 crore so far in current fiscal against a target of Rs.2,876 crore.

Addressing a press conference at his office here on Wednesday, GS Randhawa, Chief Commissioner of Income Tax, Ludhiana added the total collection of tax in the last fiscal was worth Rs. 2,343 crore.

He revealed there was an 22.7 per cent increase in the targets for Ludhiana Commissionerate for current fiscal whereas the hike in national target was 15.25 per cent. As such, Ludhiana Commissionerate had been given about 7 percent more target to achieve in current fiscal.    

Randhawa hoped that they would achieve the given target by end of current fiscal.

He further told that Ludhiana Commissionerate had so far collected 32 crore against Rs. 66 crore target for current fiscal under cash collection of arrears.

Regarding processing of returns, he told that of the total 1,90,620 income tax returns, 1,80,768 returns had been processed so far. The remaining returns could not be processed so far because of certain reasons such as PAN migration problems.

He told that now the department was giving more emphasis on e-filing of returns. He said the number of paper filing of returns was on decline year after year. He believed that 100 per cent e-filing of income tax returns would take place in next 4-5 years.

Randhawa told that they were creating awareness among the masses and even the school and college students that taxes collected were utilised for infrastructural development projects mainly for poor and down trodden public utility schemes.

Replying to a question, he told that of the top 100 corporate houses in Ludhiana Commissionerate there had been an increase of 73.29 per cent in collection till December 2012 as compared to corresponding period in 2011. He said the increase in non-corporate sector was 14.8 percent during the same period.

To a question, he told that there were a total about 7,35,000 tax payers in Ludhiana Commissionerate of income tax department. He admitted that there had been increase in number of tax payers as compared to the previous year.