Bangalore region third in direct tax revenue

Bangalore region third in direct tax revenue
The Hindu

Delhi and Mumbai stand first and second respectively

# Rs. 15,194 crores collected as income tax so far this year
# Information technology sector paid Rs. 407 crores last year
# There are 18.67 lakh assessees in Karnataka-Goa region

Bangalore: With income tax collection of Rs. 15,194 crores collected so far in this financial year, Bangalore region stands third largest in direct tax revenue, after Delhi and Mumbai. Last year, nearly Rs. 11,000 crores was collected. On the flipside, the largest assets seized during a raid were also here, amounting to Rs. 6.25 crores.

Several industry sectors are major contributors and their tax payments are growing. The banking sector paid the highest and showed an annual increase of 10 per cent; the mining sector registered a 132 per cent growth and paid Rs. 904 crores in taxes. The information technology sector despite tax concessions, paid Rs. 407 crores last year, showing a 24 per cent growth.

Chief Commissioner of Income Tax-Bangalore 1, J.K. Rao, told presspersons on Tuesday that the Karnataka-Goa region clubbed together had 18.67 lakh income tax assessees. "Till recently we were classified among the metros and we still have shortage of staff but computerisation of operations has helped us. For example, the time taken to pay refunds is coming down,'' he said.