In the wake of ease in economic slowdown pressure, Gujarat's income tax collection for the fiscal 2008-09 is likely to rise by 18 per cent over corresponding fiscal.
“Gujarat's economy is coming out from slowdown. This could be guaged from the current trend in tax collections. For the year 2008-09, tax collection is expected to increase by 18 percent. Gujarat's income tax collection was about Rs.12,650 crore in 2007-08,” said D. S. Rastogi, chief income tax commissioner, Gujarat.
Earlier Rastogi had said that advance tax and income tax revenued were affected due to slowdown but there was no adverse impact of it on corporate tax.
“The number of tax payers has also increased. The state has more than 27 lakh tax payers and about 12-15 percent new tax payers have been added this year,” he said.
