Demonetisation fails to affect tax collection in Pune

After Centre’s claims of significant rise in the tax collection after demonetisation, the tax collection data for the Pune region shows that there has been no significant change in the tax buoyancy in Pune area. Jurisdiction of Pune region includes the whole of Maharashtra, excluding Mumbai and 11 districts of Nagpur.

It is recorded that between April 1 and September 1 2017, the tax collection increase to 20.34%, which is 4 % less than last year for the corresponding period in 2016.

However, on the other side, before comparing it to individual taxpayers, there has been a rise in corporate tax collected. According to the Times of India, a senior tax official said, “

“This could be possibly because some corporates were underpaying taxes. Also, it could be attributed to the government’s push to net advance taxes this year”.

Tax collection from individuals till September 12 this year is 17%, lesser compared to the same period in last year. Tax data from April 1 to September 12, 2016 was about 28% of the tax collection for the entire fiscal.
Nonetheless, the data is yet needed some minor corrections, as tax officials said. They also added, tax collection is still going on and people have claimed returns in the deposited amount.

News Sources- Times of India