*Huge disclosures in over 700 cases under IDS-I, II
Mohinder Verma
JAMMU, Apr 4: Despite several months’ long unrest in Kashmir valley and its adverse impact on business activities in other parts of the State, the Income Tax Department has collected Rs 777 crore tax in Jammu and Kashmir during the just concluded financial year. Moreover, the department has succeeded in ensuring strict compliance to the Income Disclosure Scheme-I and II in both the regions by initiating tough action which included attachment of bank accounts.
As per the official figures shared with EXCELSIOR by Sangeeta Gupta, Chief Commissioner of Income Tax, the gross collection of tax during 2016-17 financial year was recorded at Rs 777 crore as against Rs 958 crore during 2015-16 financial year. Similarly, the net collection was recorded at Rs 430 crore as against Rs 736 crore during 2015-16 financial year.
The gross as well as net collection has dipped mainly because of shortfall in payment of Advance Tax by the Jammu and Kashmir Bank, Sangeeta Gupta said while disclosing that during 2015-16 J&K Bank had paid Rs 450 crore Advance Tax but during the just concluded financial year the bank paid only Rs 115 crore thereby creating shortfall of Rs 335 crore in the gross tax collection.
As per the figures, the gross collection excluding J&K Bank was Rs 508 crore during 2015-2016 but the same increased to Rs 662 crore during 2016-17 which means that there was 30% to 32% rise in gross collection as compared to 2015-16 if Advance Tax paid by the J&K Bank is excluded. Similarly, the net collection has increased by 56.37% as compared to net collection of 2015-16 if shortfall of Advance Tax by J&K Bank and excess refund issued is deducted.
However, despite decline in gross collection due to shortfall on account of Advance Tax by J&K Bank the Income Tax Department made refunds worth Rs 347 crore during 2016-17 as against Rs 221 crore worth refunds during 2015-16 financial year. “By making excess refund of 57.02% the Department has made it clear that effective service delivery is also its top priority”, said Sangeeta Gupta, who was recently promoted as Chief Commissioner of Income Tax.
The department has made Rs 777 crore gross collection of tax despite the fact that 2016 was a tough year for its overall functioning in Kashmir valley. “Range-3, which has its jurisdiction over Kashmir valley, had to function with a lot of constraints of shortage of officers and staff, hostile weather and social conditions and total breakdown of communication system but still it performed better”, Sangeeta Gupta said.
She disclosed that gross collection of Income Tax from Kashmir valley was to the tune of Rs 184.07 crore. Similarly, total cash collection was to the tune of Rs 35.06 crore and arrear demand has been recovered to the extent of Rs 27 crore against allotted target of Rs 19.40 crore.
“For the first time in the history of Range-3, the department attached bank accounts in 75 cases to make recovery of tax and arrears”, she said, adding even several Government bodies which were not ensuring compliance to the provisions of Income Tax Act were taken to task.
She disclosed that tax worth Rs 2.66 crore was recovered from Srinagar Development Authority while in case of Power Development Corporation an amount of Rs 1.6 crore was recovered by way of attachment of accounts. Moreover, demand of Rs 5 crore was created and fully recovered under Section 154 of Income Tax Act from PDC.
In case of Jammu and Kashmir Projects Construction Corporation refund of Rs 4.68 crore has been adjusted and arrear demand of Rs 1 crore recovered. In the case of Land and End Automobiles Rs 32 lakh was recovered out of arrear demand and in case of Tramboo Industries Pvt Ltd Rs 50 lakh was recovered out of arrear demand.
Stating that Income Tax Department J&K Circle has performed better under Income Disclosure Scheme-I and II, she said that a total of 611 cases were covered under IDS-I and 90 under IDS-II across Jammu and Kashmir. In 16 cases of Range-3 (Kashmir valley), an amount of Rs 17.43 crore was disclosed while in two cases opted under IDS-II an amount of Rs 41 lakh was disclosed.
Moreover, 3000 new assesses have been added in Kashmir valley by way of awareness programmes.
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