Rs 59,000 Crore Tax Collection Achieved in AP & TS, Says Mitali Madusmita

Hyderabad: The Income Tax Department has achieved Rs 59,000 crore of the Rs 1,21,000 crore tax collection target for Telangana and Andhra Pradesh in the current financial year, according to Smt. Mitali Madusmita, Principal Chief Commissioner of Income Tax for both states. Addressing the media, she expressed optimism about reaching the target by the end of the year.

She highlighted that the tax collection growth compared to last year stands at 15%, with Telangana showing a positive growth rate of 22%. However, Andhra Pradesh is not experiencing the same level of growth, she added.

Smt. Madusmita also pointed out that there is over Rs 2 lakh crore in tax disputes across both states. These pending tax amounts are currently under review, as part of ongoing legal processes.

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The remarks were made during an interactive meeting on “Faceless Assessment under Income Tax and the Vivad-Se-Vishwas Scheme,” organized by the Federation of Telangana Chamber of Commerce & Industry (FTCCI) on Monday. The event focused on providing clarity on new taxation systems and resolving disputes.

Addressing the topic of Faceless Income Tax Assessment, Smt. Madusmita emphasized the system’s irreversible nature. Introduced in 2019, this system eliminates direct human interaction between the taxpayer and assessing officer, making the process more efficient and transparent. “This system is here to stay, and businesses must adapt to it,” she said.

She also mentioned that the response to notices issued by the Income Tax Department has not been satisfactory, urging taxpayers to cooperate and respond promptly.

Speaking about the Vivad-Se-Vishwas Scheme, designed to resolve income tax disputes, Smt. Madusmita acknowledged the lukewarm response to the scheme and called for greater participation. Mr. Shravan Kumar Gotru, Principal Commissioner of Income Tax (Review Unit-I), also encouraged taxpayers to use the opportunity to resolve their disputes through this mechanism.

The Direct Tax Vivad-Se-Vishwas Rules, 2024, introduced as part of the government’s initiative, provide taxpayers with a straightforward process to settle long-pending disputes by paying specified amounts. The Dispute Resolution Committee (DRC), established under the Income Tax Act, oversees this process, allowing taxpayers to submit applications electronically.

Sudhir VS, Chairman of the Direct Taxes Committee at FTCCI, acknowledged the challenges both taxpayers and tax administrators face under these schemes. He emphasized the importance of taxes for national governance and called for a cooperative approach between tax authorities and the public.

Both Smt. Madusmita and Mr. Gotru assured attendees of their commitment to addressing grievances and improving the tax compliance process.

The meeting concluded with a lively Q&A session, where both officials provided clarifications and committed to assisting businesses in navigating the income tax system more effectively.

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