Madurai area reviews 5.62% decline in tax assortment for FY 2024-2025, says Principal Commissioner, Income Tax

T. Vasanthan, Principal Commissioner of Income Tax, Madurai stated that the online tax assortment of the Principal Commissioner of Income Tax (PCIT), Madurai Region for the fiscal yr 2024-2025 has proven a decline of 5.62%, whereas addressing the media in Nagercoil on Friday.

Further explaining the particulars, Mr. Vasanthan, acknowledged that web tax assortment of India for the monetary yr 2024-2025 stood at ₹22.26 lakh crore. Of this, Tamil Nadu has contributed about 6% of the full tax assortment, securing fourth place within the nation.

Madurai area which has 19 districts in Tamil Nadu and one district in Puducherry. Of the 37 earnings tax workplaces in Tamil Nadu and Puducherry, PCIT, Madurai has 17 earnings tax workplaces.

“However, even after overlaying 49.55% of Tamil Nadu’s whole inhabitants in Madurai area, it has a web assortment of solely ₹3,361 crore, with a drop of 5.2% for the monetary yr 2024-2025. This is considerably decrease than all-India earnings tax development charge of 13.57% from fiscals years 2023-2024 to 2024-2025,” Mr. Vasanthan famous.

He added that as per the information of the monetary 2022-2023, the Gross District Domestic Product of Kanniyakumari district was ₹41,900 crore, whereas the per capita earnings was ₹1,98,938.

Emphasising that, it’s important to domesticate a tradition of standard tax fee among the many taxpayers within the Madurai area a sequence of consciousness programmes have been being carried out throughout numerous districts.

“Some persons are assuming that it’s an auditor’s obligation to file earnings tax. However, if there are irregularities present in an audit, the tax payers shall be going through the results not the auditors. It is urged that each tax payer ought to take an curiosity in submitting the correct audit,” Mr. Vasanthan stated.

Earlier, a gathering was carried out at Kanniyakumari Collectorate to debate the outreach programme for tax payers and deductors that was being carried out and consciousness measures to encourage common tax fee.

Nishanth Krishna, Commissioner, Nagercoil Corporation, Vinay Kumar Meena, Sub Collector, Padmanabhapuram, Superintendent of Police R. Stalin, Manoj Prakash, Joint Commissioner, Income Tax and different officers have been current.