Chandigarh – the city beautiful has the highest ratio of income tax assessees to the total population at 36.46%. While Chandigarh has the the highest ratio of income tax assessees in north-west region while Jammu and Kashmir has the lowest at 1.56%. More than 50% of the tax is collected by Haryana. Punjab, Haryana, UT Chandigarh, Himachal Pradesh and Jammu and Kashmir comes under the North West region.
Ratio Of Tax Assessees Region By Region
The data provided by the income tax department of North West region suggests that:
- As per census 2011, Chandigarh has 36.46 per cent income tax assessees (3.85 lakh lakh assessees against a population of 10.55 lakh)
- Punjab has 5.42 per cent ratio of tax assessees
- Haryana has 4.77 per cent ratio of tax assessees
Haryana’s population is 2.53 crore and the number of tax assessees were 12.08 lakh.
Punjab’s population is 2.77 crore and the number of tax assessees were 15.03 lakh.
Himachal Pradesh’s population is 68.64 lakh and the number of tax assessees were 3.50 lakh.
Jammu and Kashmir’s population is 1.25 crore and the number of tax assessees were 1.95 lakh.
The total number of tax assessees in NW region was 36.43 lakh with an average ratio of 4.95 per cent.
A Growth In Tax Collection
As per a senior income tax official, A growth of about 18% in the tax collection has been seen due to the advance tax payments, TDS and self-assessment tax by the I-T department
Principal Chief Commissioner of Income Tax said that the budget target of tax collection was Rs 34,511 crore but they managed to collect Rs 34,959 crore. He also said that the growth in tax collection has been seen for the first time in last 3 years. He also said that the tax collection increased was by 17.66% than the net collection.
The tax collection at the national level also grew by 14.2% for the financial year 2016-17.
Tax Collection In Different Areas
An amount of Rs. 34,959 crore was collected. The different amounts of money that contributed are:
- Haryana – Rs 18,914 crore
- Punjab – Rs 7,744 crore
- Himachal Pradesh – Rs 2,401 crore
- Jammu and Kashmir – Rs 455 crore
- Chandigarh – Rs 5,442 crore
Rs. 34,959 crore was collected by the department. Out of this Rs. 19,076 crore was collected as personal income tax and corporate tax. The growth in income tax increased by 21.36%
Image Source = Tribune India