IT Collections At Rs 1057 Cr In J&K Cross Target

3 April 2014
Kashmir Times

Jammu: Commissionerate of Income Tax, Jammu & Kashmir have collected Rs 1057.20 crores towards Income Tax for just concluded financial year 2013-14 against the target of Rs 880.53 crores fixed by Central Board of Direct Taxes (CBDT). This was disclosed Commissioner of Income Tax, J&K, A K Thatai while addressing media persons here today. Highlighting the achievements of Commissionerate of Income Tax, Jammu & Kashmir Commissioner of Income Tax, J&K, A K Thatai asserted that that Income tax collected this year is 9.16 percent more than the target which amounts to Rs 177.47 crores. 'What makes the collection of such a huge amount towards income tax very special, is the fact that whereas in many other Commissioners not even managed to achieve the budget target. A joint target of Rs 1220.70 crores was fixed for Amritsar-I, Amritsar-II, Bhatinda and J&K Circles in which J&K Circle was given target of Rs 880.53 crores i.e. 72.13 percent of the total target. Commissionerate of Income Tax, Jammu & Kashmir not only achieved the target fixed by Central Board of Direct Taxes (CBDT) at Rs 880.53 crores but also exceeded the collections by a convincing amount 177.47 crores,' AK Thatai added. Commissioner of Income Tax, J&K claimed that there is decline of 6.31 percent Income Tax collections of target fixed at national level while in J&K IT department have shown 9.16 percent increase. The number of tax payers has also been increased in J&K this year. The Tax Deducted at Source (TDS) has not been included and purely Rs 1057.20 crores income tax has been collected by the department. He averred that another achievements made by the Commissionerate of Income Tax is recovery of arrear demand to the tune of Rs 50 crores. Those who have paid excess income tax have been refunded by the department. It was also mentioned that in order to bring tax evaders to book, the department has carried out sixteen survey operations and launched prosecution against twenty four defaulters for concealment of income and non payment of taxes to the department. In the year 2012-2013 12 surveys were carried out in Jammu and Kashmir regions. AK Thatai stated that Rs 316.81 crores tax has been deducted by the banks excluding Jammu & Kashmir Banks in the state in the current financial year. He clarified that payment of taxes has been increased across the board in all spheres of business carried out in the state of Jammu & Kashmir. While thanking the assessees of J&K at large in helping the department to make, what he called, 'a very difficult looking task' quiet possible, he showered praise on his team mates, the officers and staff working in the department in J&K for their strenuous and continuous efforts to achieve all the budget targets fixed for this charge.