12% growth in income tax collection 12% growth in income tax collection Chartered Accountant CA ICAI Chartered Accountants CA ICAI CAinINDIA ICAI Announcements Accounting Standards CA News ICAI Students ICAI Members Case Laws CPT IPCC Final ICAI Course CA Course ICAI Forum CA Question Papers ICAI Study Material

« Direct Tax »

Open DEMAT Account in 24 hrs
GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers
CBDT launches campaign to intimate taxpayers on undeclared foreign assets in ITR
ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources
CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
CBDT weighs overhaul of designations for income tax officials to secure better clarity
Direct tax-GDP ratio at millennial high in FY24
CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
Tax filing: How to choose the right ITR form
Income Tax Return: How to maximise your tax refunds while filing ITR?
Last date for filing income tax return (ITR)


« No penalty for late ITR this year but here are 4 important...	CBDT gameplan to enhance TDS collection... »
12% growth in income tax collection

July, 25th 2017
If the income tax (IT) collection figures from Nashik region are any anything to go by, then the city and its adjoining areas are heading towards robust economic growth. The income tax collection in the last fiscal by Nashik IT division registered 12% growth as compared to 2015-16. Other tax collections like advance tax, sales assessment tax and regular tax witnessed a 46.73% growth. The IT officials said these figures indicate Nashik's economic growth is on the rise. "There has been a growth of 12% in income tax collection through tax deducted at source (TDS) during 2016-17 as compared to 2015-16. During the last fiscal, the department had made a revenue collection of Rs 4744.1 crores. Even with regards to collection of other taxes Nashik IT division has recorded 46.73% growth in the last fiscal as compared to 2015-16. The total number of tax payers in Nashik region is 8,66,688," informed Mohit Mrinal, joint commissioner of Nashik division of Income Tax. The official recalled that the department has made significant strides in the country by mobilising resources from a meagre Rs 1.1 crore in 1860-61 to about Rs 848 thousand crore in 2016-17 with the total number of tax payers reaching to almost 7.4 crore across India. Responding to a question, the IT official said the growth in collection of revenue by Nashik division is due to initiatives like e-governance, e-assessment, e-filing of returns, e-Nivaran (online redressal of complaints) and other online services, introduced to provide tax payers better services and at the same time mining way to increase tax payers. "Nashik's economy is definitely growing. Income is growing, hence, the economy is also growing," Mrinal. celebrated tomorrow: The income tax department has arranged for a number of activities for observing the Income Tax Day on July 24 - marking 157 years of existence of the department. To mark the day, the Nashik office has organised essay writing and slogan competitions for officers of the department on the subject "The role of income tax in nation building". Painting competition has also been organised for children of the employees. A function will be held at ICAI Hall on Ashoka Road at 3 pm. Officers of Central and state government, members of trade associations, members of CA/ITP Association, retired officers have been invited for the same.