The Andhra Pradesh circle of the Income Tax (I-T) department has budgeted a tax collection of Rs 3,438 crore during the current financial year as against the actual collection of Rs 2,873 crore in the previous fiscal.
Of the target for this year, Rs 1,386 crore is expected as corporate tax, and Rs 2,052 crore estimated to be accounted for by personal income tax.
Announcing the arrangements made to issue Permanent Account Numbers (PAN) to all the I-T assessees, B P Shah, the chief commissioner of income tax, circle-1, said that the department had collected Rs 474 crore tax as on July 4 as against the collection of Rs 377 crore in the same period of last year.
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On the issue of PAN cards, he said that as on May 31 the department had received 14.35 lakh applications and 13.81 lakh cards were issued. There are about 17.58 lakh income tax assesses in the state.