Hyderabad: Taxmen make Rs 390 crore in 48 hrs
Deccan ChronicleHyderabad: Pre-emptive “strikes” by the income-tax department which is in hot pursuit of industrialists, businessmen and potential tax evaders to pay their taxes before March 31, have made the department richer by close to Rs 390 crore within just 48 hours. Pursued by tax officials, two major firms paid advance taxes of Rs 250 crore and over Rs 138 crore respectively during the last two days even as the I-T department is continuing with its searches and surveys. On March 14, this newspaper had reported that the Telangana state and Andhra Pradesh would be witnessing a surge in income-tax raids, surveys and searches till March 31 as tax officers are racing against time to achieve the target of Rs 60,845 crore set for the Hyderabad I-T region by the Union finance ministry. Sources in the I-T department told this newspaper that advance tax of Rs 250 crore was paid by New York-based KKR Private Equity, a global investment firm. “The company had huge cash flow issues and the I-T department was pursuing the company after which they paid up Rs 250 crore,” sources said.
History of this topic
Telangana revenue collections touch Rs 1 lakh cr
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6.1 per cent growth in Income Tax collection
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Tax net up 16.9 per cent, is short of target
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Hyderabad: I-T sleuths race to meet target before march 31
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