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Industry & Economy - Income Tax


I-T collection target of Rs 958 cr set for Mangalore division

Our Bureau

Mangalore , Nov. 4

THE Chief Commissioner of Income-Tax, Goa, Mr B. Ramkumar, has said that the department has set a target of collecting Rs 958 crore income tax in Mangalore division during the current financial year.

Addressing the members of the Kanara Chamber of Commerce and Industry (KCCI) here, he said the department collected Rs 678 crore I-T in Mangalore division during 2003-04. Nearly 1,600 appeals are pending for disposal in the region.

When a member asked him why most education institutions do not pay tax, he said that India is an exporter of manpower, and the creation of quality manpower requires good education institutions.

As education institutions are exempted from paying tax they are forced to invest in education. This has helped in the creation of quality education institutions. He said, "Personally I am for giving concession to education institutions."

When KCCI members told him that e-filing of income-tax is not possible here, Mr Ramkumar said he would discuss the matter with the officials concerned.

The KCCI President, Mr A. Srinivasa Rao, welcomed the gathering.

More Stories on : Income Tax | Karnataka

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