The Hindu Business Line : 33 pc rise in AP circle I-T collections; online system from June 1

THE Income-Tax Department in Andhra Pradesh circle has registered a 33 per cent growth in overall tax collections for the year 2003-04 as against the all-India average of 28 per cent, recording revenues of Rs 3,822 crore.

While projecting a tax mop-up of over Rs 4,500 crore this fiscal, the department has launched a new online filing system teaming up with the RBI and other banks, programmed to be operational from June 1, 2004.

Speaking to newspersons on Friday, the Chief Commissioner of Income-Tax, Mr P.A. Chowdary, said that while the target for 2003-04 was initially fixed at Rs 3,438 crore, it was subsequently revised by 32 per cent to Rs 3,802 crore in January 2004.

In spite of the above revision and elections, both for the State and in the Centre, the Andhra Pradesh circle was able to collect more than the fixed target.

"The AP circle has also been consistent in expanding the tax base. While the number of assessees stood at 9.20 lakh in 1998-99, it grew to 16.1 lakh in 2001-02 and by the end of 2003-04, this number shot up to 18.22 lakh," he said.

"We have been able to process all returns within the target time of four months given by the CBDT (Central Board of Direct Taxes) and refunds wherever due. In salary ranges, particularly in Hyderabad and also in many stations of Andhra Pradesh region, returns filed up to March 31, 2004 have been processed and refunds have been issued," he said.

"Out of the overall tax collections of Rs 3,438 crore (Rs 2,875 crore in previous fiscal), corporation tax accounted for Rs 1,386 crore and income-tax Rs 2,052 crore. While corporation tax registered 40 per cent growth over last year, income-tax was up by 26 per cent."

The Chief Commissioner also said that the department has targeted corporation tax of Rs 2,236 crore and income-tax of Rs 2,375 crore - taking the overall tax collection to Rs 4,611 crore - for 2004-2005.

"However, while this is the projection, as we begin to get fresh filings, the trends would come up when we can actually predict the overall growth rate."

OLTAS gets under way: The Department is set to move to the new tax collection mechanism powered by what the department calls OLTAS or online tax accounting system.

The department and the Reserve Bank of India (RBI), with the participation of 31 commercial banks, are set to introduce the online accounting system with effect from June 1, 2004.

The collecting banks will now transmit the tax payment data electronically to the IT department and taxpayers will obtain faster and accurate credit for taxes paid by them.

As opposed to seven different forms for various applications, the process has been streamlined bringing in just three forms. These payments would be reconciled in three days, the department officials said.

This project to provide online solution was developed in-house by leveraging the technology expertise of the department officials and is a step towards making the taxpayers' job easy and convenient.

The department is in the process of finalising plans to enable even the eSeva citizen centres with this service. However, a final decision would be taken by the CBDT, Mr Chowdary said.

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