I-T collection in Karnataka and Goa set to cross Rs 1 lakh crore

Bengaluru, 24 Mar 2018 [Fik/News Sources]: The Income Tax collection in Karnataka and Goa region is all set to cross Rs. 1 lakh crore this fiscal, a first in history.

“As of date, the collection is over Rs. 98,000 crore and we will cross the Rs. 1 lakh crore-mark by the end of this fiscal,” said Rajnish Kumar, Principal Chief Commissioner of Income Tax, Karnataka and Goa region.

Kumar said that income tax investigation into the post-demonetisation deposits of 2016 was still in progress.

“We have 571 cases of deposits over Rs. 1 crore and 21,688 cases of deposits of over Rs. 10 lakh, who have not filed their returns. Investigation into these cases is on,” he said. “Last year, we conducted 50 search and seizure operations and unearthed Rs. 5,259.4 crore worth of undisclosed income. But these cases are in various stages of assessment,” he said.

Surveys of Tax Deducted at Source (TDS) evasion have unearthed huge quantum of non-remittances in the region during this fiscal.

“We conducted 517 surveys of firms and unearthed over Rs. 300 crore defaults. Last year, we unearthed Rs. 160 crore of survey of 490 firms,” said Sanjay Kumar, Commissioner Income Tax (TDS), Bengaluru said.