I-T Mop Up In Pune Region Witnesses 34% Growth

Income-tax collection from the Pune region has surpassed even the revised target and has reported an overall growth of 34 per cent for the year ended March 2007. This is the first time that the Pune region has exceeded the target. According to the source, the target that had been set for the year was Rs 8,400 crore, which was revised to Rs 8,700 crore. But the Pune region has, so far (as of April 5, 2007), collected revenues to the tune of Rs 8,970 crore. The tax collection from this region was estimated to cross Rs 9,000 crore, as the final collections report was yet to come in. The corporate tax accounted for Rs 2,964 crore and income-tax stood at Rs 3,545 crore and other taxes were Rs 195 crore as on March 2007. This showed an increase of 29.49 per cent in the corporate taxes, 37.69 per cent in income-tax and an overall growth of 33.82 per cent. Taking an account of the top five corporate income-tax payees as advance tax, he said Bank of Maharashtra has paid Rs 125 crore, Cummins India Ltd (Rs 108 crore); Bharat Forge Ltd (Rs 101 crore); Thermax Ltd (Rs 100 crore); and Piaggio Vehicles Pvt Ltd (Rs 67.2 crore). This he noted was about 67.5 per cent, 48 per cent, 19 per cent, 67 per cent and 37 per cent higher respectively than what was handed over during the year ended March 2006.