Chandigarh: Tax collection in the North west region (NWR) comprising Punjab, Haryana, Himachal Pradesh, Jammu and Kashmir and Union Territory of Chandigarh has zoomed by 39 per cent to Rs.9743.96 crore in 2007-08 compared to collection of Rs.7007.74 crore in 2006-07.
The rise in total tax collection has been on account of a major jump in overall collection in corporate tax from the NWR which accounted for nearly half of the total tax collection, said a senior income tax official here.
Corporate tax collection in the NWR touched Rs.4245 crore, a rise of 44 per cent, while income tax collection stood at Rs.5498.96 crore for 2007-08, he said.
The number of assessees in the NWR also rose to 32.10 lakh in 2007-08 as compared to 29.99 lakh in 2006-07, which is 7.03 per cent.
Gain from defaulters
The number of tax returns from this region has also gone up to 2,901,830 in year 2007-08 as compared to 2,859,829 in 2006-07, he said.
A tightening of the noose around tax defaulters has also brought gains to the department as unaccounted money totalling Rs.400.39 crore was surrendered in 2007-08 compared to Rs.339.23 crore in 2006-07. - PTI