Madurai region reports 5.62% decline in tax collection for FY 2024-2025, says Principal Commissioner, Income Tax
By The Hindu Bureau
Copyright thehindu
T. Vasanthan, Principal Commissioner of Income Tax, Madurai said that the net tax collection of the Principal Commissioner of Income Tax (PCIT), Madurai Region for the fiscal year 2024-2025 has shown a decline of 5.62%, while addressing the media in Nagercoil on Friday.
Further explaining the particulars, Mr. Vasanthan, stated that net tax collection of India for the financial year 2024-2025 stood at ₹22.26 lakh crore. Of this, Tamil Nadu has contributed about 6% of the total tax collection, securing fourth place in the country.
Madurai region which has 19 districts in Tamil Nadu and one district in Puducherry. Of the 37 income tax offices in Tamil Nadu and Puducherry, PCIT, Madurai has 17 income tax offices.
“However, even after covering 49.55% of Tamil Nadu’s total population in Madurai region, it has a net collection of only ₹3,361 crore, with a drop of 5.2% for the financial year 2024-2025. This is significantly lower than all-India income tax growth rate of 13.57% from fiscals years 2023-2024 to 2024-2025,” Mr. Vasanthan noted.
He added that as per the data of the financial 2022-2023, the Gross District Domestic Product of Kanniyakumari district was ₹41,900 crore, while the per capita income was ₹1,98,938.
Emphasising that, it is essential to cultivate a culture of regular tax payment among the taxpayers in the Madurai region a series of awareness programmes were being conducted across various districts.
“Some people are assuming that it is an auditor’s duty to file income tax. However, if there are irregularities found in an audit, the tax payers will be facing the consequences not the auditors. It is urged that every tax payer should take an interest in filing the accurate audit,” Mr. Vasanthan said.
Earlier, a meeting was conducted at Kanniyakumari Collectorate to discuss the outreach programme for tax payers and deductors that was being conducted and awareness measures to encourage regular tax payment.
Nishanth Krishna, Commissioner, Nagercoil Corporation, Vinay Kumar Meena, Sub Collector, Padmanabhapuram, Superintendent of Police R. Stalin, Manoj Prakash, Joint Commissioner, Income Tax and other officials were present.
