IT raid collections in Karnataka and Goa to cross Rs.1 lakh crore

Bengaluru/Panaji: For the first time ever, the Income Tax in Karnataka and Goa region has collected almost a whooping Rs. 1 lakh crore this year. 

Rajnish Kumar, Principal Chief Commissioner of Income Tax, Karnataka and Goa area said “As of date, the collection is over Rs. 98,000 crore and we will cross the Rs. 1 lakh crore-check before the end of this monetary,” Kumar said that salary assess examination concerning the post-demonetisation deposits of 2016 was still in progress. 

“We have 571 instances of deposits over Rs. 1 crore and 21,688 instances of deposits of over Rs. 10 lakh, who have not recorded their profits. Investigation concerning these cases is on,” he said. “A year ago, we directed 50 raids and seizure activities and uncovered Rs. 5,259.4 crore worth of undisclosed income. But, these cases are in different phases of evaluation,” he said. 

Overviews of Tax Deducted at Source (TDS) avoidance have uncovered tremendous quantum of non-settlements in the district during this financial. 

“We directed 517 examinations of firmsand uncovered over Rs. 300 crore defaults. A year ago, we uncovered Rs. 160 crore of examining of 490 firms,” said Sanjay Kumar, Commissioner Income Tax (TDS), Bengaluru.