THE BHOPAL charge of the Income Tax Department registered a significant growth in all important segments during the second quarter of the current fiscal. This is a farewell gift to the Chief Commissioner, Income Tax, A K Luthra, who is superannuating on September 30.
“I have no regrets because, with the help of my team, not only we achieved targets but also surpassed many of them,” said Luthra on Thursday while addressing a press conference to share the half-yearly achievement of the department.
The office has also recorded a growth not only in income tax collection but also in expanding its tax net. The Bhopal charge of IT Department has collected tax worth Rs 808.08 crore till September 26 against the year’s target of Rs 1967 crore, achieving 41 per cent of the current fiscal target, said Luthra.
The department is also maintaining significant growth in advance tax and TDS collection, and even the returns received have also increased, said the Chief Commissioner.
Referring to the growth registered in Tax Deducted at Source (TDS) income, he said that against the collection of Rs 374 crore in 2004-05, the department has mopped up Rs 632.35 crore this fiscal.
He also informed a number of surveys conducted during last fiscal and tax recovery made from them. He said that after a gap of many years, the department had not only conducted successful surveys in Gwalior but also recovered huge tax.
Luthra expressed hope that the department would achieve the target fixed for the current fiscal. “We are still in the process of recovering tax and updating our figures with each passing day, and looking at the present trend of collection we are confident of crossing the target of Rs 1967 crore fixed for the current fiscal,” said the Chief Commissioner.
He said the department is also making all-out efforts to provide timely refunds to taxpayers. Against Rs 44.44 crore refunds issued till September 26 last year, the department has disbursed Rs 124 crore, registering a growth of 167.01 per cent.