Good times are back, 54% rise in tax revenue | india | Hindustan Times
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Good times are back, 54% rise in tax revenue

india Updated: Jun 24, 2011 23:34 IST
HT Correspondent

The total revenue generated from taxes in Gurgaon has reached a whopping Rs 4,098 crore in the assessment year 2010-11, up 54% from the amount collected a year ago.

The major increase in tax realisation was seen in the corporate sector and individual taxpayers as they together registered 70% growth.

“Against the collection of Rs 518 crore in 2009-10, we have collected Rs 880 crore from the corporate sector as well as from individual taxpayers. It shows that earnings of industries and subsequently of employees have increased in the last fiscal,” said DS Kalyan, additional commissioner (IT), Faridabad.

The impact of global economic meltdown seems to have been diminishing, giving a boost to the overall industrial capital of Haryana, Kalyan said, adding that the department has collected R4,098 crore during fiscal 2010-11 against Rs 2,568 crore in the assessment year 2009-10.

Besides, in the form of TDS, the department has earned Rs 3,218 crore, up 53 % this year. It was Rs 2,100 crore during the 2009-10. Experts say such a rise in TDS collection shows that the city has created more jobs. “There are endless job opportunities. The coming months will be progressive. Days of meltdown are not going to be back,” said P Rameshan, director, IIM-Rohtak.