The Income Tax Department, Jammu and Kashmir has made a record gross collection of Rs. 800 crores in the last financial year, 2012-13.
The Commissioner, Income Tax, Jammu and Kashmir, A K Thatai was overwhelmed today after the achieving 124.91cr more than the target.
Thatai said, “Breaking all the previous records the department has made highest Gross collection of Rs. 800 cr in this financial year, whoever the Net collection is 732.92 cr, after deducting the refunds.”
“We are now feeling at the top of the Income tax map,” he added.
The Income earned by the IT department of the state directly goes to the state, The total contribution to the state in this financial year is Rs.1350 cr (IT+TDS).
The Net collection in the financial Year 2011-12 was 608.01crores, however the budget was only Rs.579.42cr. In the financial Year the Budget was 656.42cr, but hthe department has achieved Rs. 732.92cr.
Thatai said that they hare ready for any target for the new financial Year.