Tax collection in MP circle to cross target
The Income Tax Department`s Madhya Pradesh and Chhattisgarh circle is expected to cross Rs 10,000 crore mark.
Bhopal: The Income Tax Department`s Madhya
Pradesh and Chhattisgarh circle is expected to cross Rs 10,000 crore mark as tax collection in the current financial year against the target of Rs 9,331 crore.
"The department in the current financial year has
collected tax of Rs 7728 crore in the MP-CG region which is 37
per cent more than the cash collection of Rs 5462 crore made
in the corresponding period in the year 2010-11," Chief
Commissioner Income Tax (CCIT), AK Jain told reporters.
"Considering the present trend in collection it is
expected that total collection during this financial year
2011-12 will be more than Rs 10,000 crore," he said.
In the current financial year the department has
completed scrutiny of over 5,400 cases in the
commissioner-ates of Bhopal, Jabalpur and Indore till December 2011.
These included all cases where searches were conducted
in the financial year 2009-10. Only some search cases where
proceedings/orders have been stayed by the High Court or
special audit has been directed, are yet to be completed.
The assessment orders in all the cases have been passed
and the demand notices have been served by December 31,
as per the requirement of the law.