IT collections in Andhra show buoyancy

Hyderabad, Oct 17: Income Tax State Chief Commissioner D V Dharmik today said the Andhra Pradesh Region recorded Rs 3,681 crore in Corporate Tax and Personal IT collections up to September 2006 as against Rs 2,315 crore collected in the same period last year marking an increase of 59 per cent.

Addressing the press here, Mr Dharmik said while Corporate Tax showed 45 per cent increase, personal IT rose 77 per cent. The Department had achieved 43 per cent of the budgeted Rs 8,479 crore collections for the current financial year.

The IT returns filed showed an increase of nine per cent to over 8.71 lakh by end of September 2006.

The department constituted two teams to collect information on real estate business in the city. It had collected details of 1,158 projects from the Hyderabad Urban Development Authority and 1,095 projects from Town Planning Department.

Mr Dharmik said 1.24 lakh assessees had acquired two Permanent Account Numbers (PANs) and the department had written to them on deactivating the numbers.

Those having more than one PAN were liable for punishment, he warned.

UNI