Concern over low income tax collection in Tripura

FROM A CORRESPONDENT

AGARTALA, July 18: Altogether 43,000 people in Tripura are paying income tax out of which 40,000 are individuals and the rest are various companies, establishment or institutions.

The income tax officials disclosed this during their ongoing campaign to popularize the Income Declaration Scheme 2016, a scheme declared by the Central Government that is extending a scope for one time discloser of undisclosed income by the defaulters.

In case of such voluntary discloser a 45% tax will be charged which includes 7.5% agriculture cess and 7.5% fine.

Once such declaration is made the person will not be subject to any further interrogation, they said.

During discussion the officials express dismay over low collection of income tax in Tripura. They said the volume of the state budget is increasing at a rate of yearly Rs 150 to Rs 200 Crore, per-capita income is increasing, businesses are expanding but the number of tax payers and collection of income tax is not increasing.

They said last year only 104 crore was collected from Tripura as income tax which is much less compared to the potential of the state.

LC Joshi Rani, Principal Commissioner of Income Tax, Silchar said 90 per cent of the money being collected as income tax is returning to the concerning State. So every citizen must pay their due tax for the interest of their State.

Shyamal Datta, Jt. Commissioner of Income Tax, Agartala warned the tax evaders that the income tax department is aware of everybody’s income and any attempt to hide it may attract trouble for them.

He said the income tax department has recently assessed the income of persons who accumulated huge property with the money they earned through private tuition. Now they are trying to go for voluntary discloser but it is not possible as there is no provision for voluntary discloser after it is assessed.