JAMMU: 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 said he was overwhelmed “after collecting much more revenue than the target set for last fiscal.”
He said, “Breaking all the previous records the department has made highest gross collection of nearly 800 crores in 2012-2013. 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).
In this financial year the target was 656.42 crores, but the department has achieved Rs. 732.92 crores.
The Net collection in the financial Year 2011-12 was 608.01 crores, however the target was only Rs.579.42cr.
Thatai said that the department “is ready for any target for the new financial Year.”
(Agencies)
