Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Tax planning for 2025: How to maximise your savings before March 31 deadline
 New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha
 5 major changes in the last 6 months every taxpayer should know!
 Good news for taxpayers: ITR forms updated to allow 87A tax rebate claims, but there's a catch
 Top 10 income tax changes from 2024 to look out for while filing ITR in 2025

Income tax collection from Mumbai falls below target in FY17
April, 10th 2017

The Mumbai income tax zone, which contributes a third of the nationwide direct tax collection, has missed the revenue mop-up target for FY17 by a whisker, a department official has said.

"The Mumbai zone has missed the target of Rs 2.79 trillion for fiscal 2017 by a wafer-thin margin," an official of the income tax department told PTI here.

However, the official didn't give the exact amount which has been collected from the nation's financial capital.

Citing the reason for missing the mark, the official said, "We have given refunds by over 30 per cent when compared to the previous year and it was one of the major reasons for marginally missing the target."

The Mumbai zone had achieved the revenue collection of Rs 2.48 trillion in the previous fiscal.

At the national level, direct tax collections in 2016- 17 stood at Rs 8.47 trillion, up 14.2 per cent over the the last fiscal. The department was able to meet the target for fiscal 2017 whereas it had missed the mark for pan-India in the previous financial year.

Meanwhile, Bengaluru topped the chart in collection of direct taxes among all the metros for the year, while the national capital saw a marginal growth.

In percentage terms, Bengaluru upped the chart with a 21 per cent growth at Rs 90,000 crore, whereas New Delhi's collections inched up by 5 per cent to Rs 1.1 trillion.

In contrast, Chennai zone grew 18 per cent at Rs 60,000 crore and Kolkata by 15 per cent at Rs 36,500 crore, the official added.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting