Income Declaration Scheme nets Rs 11,000 crore in AP, Telangana circle

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The AP circle of Income- Tax department (TS and AP) netted Rs 11,000 crore from the Income Declaration Scheme (IDS) which will yield Rs 4.950 crore to the government in taxes. Both the states stood at first two positions in South India with Rs 6,000 crore in AP and Rs 5,000 crore in TS followed by Karnataka with Rs 4,700 crore. The all-India figure has been pegged at Rs 65,000 crore.

 

Highly placed official sources in the Central Board of Direct Taxes told this newspaper that the AP circle has crossed the figure of  Rs 11,000 crore by the end of September. “The compilation is continuing and by Monday evening we shall have final figures, which means the circle will have contributed more than 20 per cent to the country’s total collections. We are expecting the final figure will be `12,500 crore,” the sources explained.

 

Nearly 7,000 business personalities, realtors, politicians and other persons from industrial sector from the two Telugu states have responded to the call given by the I-T department.

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