IT dept nets Rs 808.08 cr so far in FY 06-07

Bhopal, Sep 28 (UNI) Income-Tax collection from Bhopal Circle stands at Rs 808.08 crore -- 41.08 per cent of the target -- at this point in the present fiscal.

''A target was set to collect Rs 1,967 crore from Bhopal Circle this year. So far, maximum collection of Rs 500 crore was from income tax, while Rs 307 crore was collected from corporate sector,'' Madhya Pradesh Chief Income-Tax Commissioner Gulshan Luthra told reporters here.

He attributed the rise in revenue to better collection and proper assessment.

The income-tax department collected record Rs 79 crore from tax till August, while Rs 476.88 crore was collected in the form of advance tax by September 26 registering an increase of 14 per cent over the corresponding period previous fiscal.

Likewise, a revenue of Rs 632.35 crore was collected under tax deducted at source (TDS) which was 68.88 per cent more than the corresponding period previous fiscal.

The IT Commissioner said the Bhopal circle refunded Rs 124 crore -- 167 per cent more than corresponding period previous fiscal -- this year.

He admitted that several cases of income-tax refund were pending, as a software from New Delhi had not arrived so far. Out of 4,50,555 returns filed, refund to Rs 1,18,379 returns had been made. On duplicate PAN card holders, Mr Luthra said more than two lakh income-tax payers in Madhya Pradesh and Chhattisgarh were holding more than one PAN card.

A notice had been served to such PAN card holders asking them to return their PAN cards and warned that strict action, including imposing a Rs 10,000 fine, would be taken on failure to do so by December 31.

Mr Luthra said the department had achieved unprecedented success through surveys in Gwalior, Chhatarpur and Jabalpur. Under this, taxable income of Rs 1.56 crore and Rs 1.25 crore had been come to knowledge from two businessmen in Gwalior.

Besides, taxable incomes of Rs 22 lakh and Rs 71 lakh had been traced in Chhatarpur and Jabalpur respectively. These businessmen had started paying income-tax to the department.

UNI