Andhra I-T Department Eyes Rs 9685 Crore Collections

Hyderabad: The Income Tax Department has recorded collections to the tune of Rs 7,301 crore up to February 2007 in Andhra Pradesh as against Rs 4,900 crore in the corresponding period last year, showing a growth of 49%. This formed 75 per cent of the total target of Rs 9,685 crore for the whole year. I-T department are hopeful of meeting the target as the deadline for payment of advance tax is due on March 15. The number of returns went up to 12.61 lakh up to February 2007, as against 11.93 lakh, showing a growth of six per cent. The number of high-income individuals too showed a sharp growth. The department added 99,404 assessees (77,852) this year, recording a growth of 28 per cent. The department conducted 803 surveys, mostly on realtors, that resulted in detection of an additional income of Rs 282 crore with a tax effect of Rs 109 crore. It was realtors who topped this list with a total undisclosed income of Rs 191 crore that had a tax effect of 65 crore. These operations were specifically targeted at builders, real estate agents, jewellers, contractors, traders and those in finance business.