Andhra's Income Tax collections up 42 per cent

The Department of Income Tax has collected an amount of Rs 4,294 crore as tax up to the end of December in the current financial year in Andhra Pradesh.

This is 42 per cent more than Rs 3,018 crore collected during the corresponding period last year.The department has set a target of collecting Rs 6,401 crore as tax for the current fiscal.

According to chief commissioner of Income Tax-1, D V Dharmik, the department has received specific information with regard to high spenders and investors through various sources. Basing on this information, notices are being issued to 15,000 individuals who have either spent or invested unaccounted amount of Rs 5 lakh and above.

"Our analysis showed that these individuals do not have permanent account numbers (PAN) and have not filed their income tax returns. We will take further course of action against them once we receive their response,"

Dharmik told mediapersons on Thursday. Replying to a question, he said that an amount of Rs 36 crore was collected as Fringe Benefit Tax so far.

The department had conducted 48 raids and recovered an amount of Rs 23 crore till the end of last month.