IT collections up 50 p.c. in AP

Income-tax collections in the State during the first quarter of the current fiscal registered 50 per cent growth over the corresponding period last year, aggregating to over Rs. 2,000 crore, said Chief Commissioner, Income-Tax, Andhra Pradesh, D.V. Dharmik.He was speaking to presspersons after the official launch of www.taxyantra.com, a website that allows Indians file their tax returns from anywhere in the globe.

There were an estimated 12,000 small, medium and big companies operating in the State and such user-friendly products like TaxYantra will go a long way in widening the IT Department''s tax-payer base, Mr. Dharmik said.The product is an initiative of four Indian School of Business (ISB) alumni. M. Rammohan Rao, the ISB''s Dean, said the school actively encouraged entrepreneurship by creating the right learning environment.

Earlier, Nitin Vyakaranam, Director, ''arthayantra'', the company that came up with the e-filing facility said the website had logged over 50,000 hits in the past four days since the announcement was made.