Tax net up 16.9 per cent, is short of target
This is against the target of Rs 11.5 lakh crore set by the Central Board of Direct Taxes.
Hyderabad: After doing everything possible to make industrialists, businessmen and potential tax evaders pay up, even inviting resentment from many assessees, the all-India tax collections by the income tax department on March 31, the last day of the financial year 2018-19 stood at over Rs 10.94 lakh crore — Rs 10,94,179.1 crore to be exact — registering an overall growth of 16.9 per cent.
This is against the target of Rs 11.5 lakh crore set by the Central Board of Direct Taxes.
As for the Hyderabad I-T region (which includes Telangana and AP), the total net collection was over Rs 57,337 crore — short of the target of Rs 60,845 crore despite registering a growth of 19.2 per cent.
The figures are expected to go up slightly as some more miscellaneous additions are still to be made, which may take a couple of days.
Sources in the I-T department said that Mumbai region as usual topped the list with net collection of Rs 2,98,950.7 crore, recording a growth of 17.4 per cent, followed by Delhi I-T region whose collections were Rs 1,59, 350.3 crore, registering a growth of 24.6 per cent.
In the south, the Bengaluru I-T region stood first with Rs 1,19,904.9 crore.