While natioanwide collection of the Income Tax department increased by just 10% the department witnessed a growth of 19% in tax collection this fiscal in Gujarat. This includes both the corporate and individual segment. Among top ten Income Tax payer states, Gujarat comes at seventh position. Last year Gujarat Income Tax department collection was on 8th position.
The department collected Rs 14,320 crore till March 20 of this fiscal. The target of this fiscal was Rs 14,790 crore according to DS Rastogi, Chief Commissioner of Income Tax(Ahmedabad).
The growth in advance tax(corporate and individual both_ is 28.79%. The growth in corporate tax alone is 32.55% while it is 6.36% for individuals. The number of tax payers has increased with the state registering more than 28 lac tax payers.
The top tax payer who was paying an income tax of Rs 2.50 crore last fiscal has paid Rs 14.50 crore this fiscal(48% higher). The other top four individual tax payers paid Rs 10.50 crore, Rs 10.28 crore, Rs 7.43 crore and Rs 6.75 crore. The department didn’t disclose the names of top tax payers. In the corporate sector, the top tax payer is from the banking sector who paid Rs 1,396 crore.
The tax collection from advance tax payers was Rs 7,150 crore which is more than the Rs 5,429 crore collected in last fiscal.