Chennai Corporation tax collection - Rs. 992 Crores
Posted on: 11/Apr/2017 5:04:43 PM
During the financial year 2016-17, the Chennai Corporation has collected total taxes worth Rs. 992.78 Crores.
A total tax collection of Rs. 992.78 Crores has been made by the Chennai Corporation for the financial year 2016-17. Property Tax was Rs. 695.45 Crores. Trade/commercial tax collection was Rs. Rs. 297.33 Lakhs.
In the previous financial year, the tax collection was Rs. 856.04 Crores. So, there has been an increase of tax collection by Rs. 136.74 Crores.
The central government made the demonetization announcement of Rs. 500 and Rs. 1000 notes during November. The central government also informed that enquiries will be conducted deposits made exceeding Rs. 2.5 Lakhs.
The central government also gave the concession that the local taxes can be paid through demonetized currencies.
Accordingly, Chennai Corporation organised camps to accept tax payments with demonetized notes. A total collection of Rs. 106.17 Crores has been made through these camps.
The Corporation Revenue Department officials inform that the camps for the collection of taxes through demonetized currency were one of the reasons for the increase in total tax collection in the last financial year.
