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Home Breaking News

Tamil Nadu & Puducherry 4th largest contributor to Direct Taxes exchequer in FY23

by NavJeevan
2 years ago
in Breaking News, Business, chennai, National, Pondicherry, taxation
Reading Time: 3 mins read
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Income Tax officials visit actor Vijay’s residence in ECR, deny raid

TN & Puducherry Region Income Tax Office at Nungambakkam in Chennai. NE FILE PHOTO

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NE BUSINESS BUREAU
CHENNAI, JULY 19

Tamil Nadu is one of the most compliant States in the country as far as taxes are concerned and Tamil Nadu & Puducherry Region is the fourth largest contributor to direct taxes exchequer, according to Principal Chief Commissioner of Income Tax, Tamil Nadu and Puducherry Sanjai Kumar Verma.

“Tamil Nadu & Puducherry Region, mobilised, during the FY 2022-23, gross collection of Rs. 1,24,414 crores and net collection of  Rs.1,08,364 crores. TN& P region is the fourth largest contributor to direct taxes exchequer. Out of the total net collections of Rs.1,08,364 crores, TDS/TCS alone has contributed to 56% of the collections at Rs. 60,464 crores. Around 50% of TDS collections are through TDS on Salaries, followed by TDS on Fees for Professional/Technical Services and TDS on Contractual Payments. For the FY 2023-24, budget target for the region has been set at Rs. 1,17,900 crores out of which target for TDS/TCS is fixed at Rs 59,851 crores,” says a release.

  • Out of the total net collections of Rs.1,08,364 crores, TDS/TCS alone has contributed to 56% of the collections at Rs. 60,464 crores
  • For the FY 2023-24, budget target for the region has been set at Rs. 1,17,900 crores out of which target for TDS/TCS is fixed at Rs 59,851 crores
  • Recently, for the very first time in the country, an Artificial Intelligence-powered Chatbot (conversational application) titled “TDS Nanban” has also been launched by Principal Chief Commissioner of Income Tax, Tamil Nadu and Puducherry

Several new transactions  such as cash withdrawals, foreign remittances, purchase of luxury cars, online gaming etc.  have been brought under the scope of TDS/TCS. Tamil Nadu and Puducherry Region endeavours to provide continued quality Tax Payers’ Services initiatives in the region through educating and facilitating the stakeholders with the provisions of TDS/TCS, the procedures and the amendments introduced, the statement added.

Towards this end, valuable resource materials have been designed and launched by the TDS Chief Commissionerate to particularly cater to the needs of the tax deductors and other stakeholders in  Tamil Nadu and Puducherry region in the form of TDS Deductors’ Brochures and Manual 2023 in both Tamil and English languages, 16 e-learning educative videos with voice over in Tamil language explaining the procedures to be followed by the deductors in TRACES Portal which have been uploaded in You tube Channel (https:// youtube.com@incometaxtamilnaduandpuduc9090.

Principal Chief Commissioner of Income Tax launches “TDS Nanban”

Recently, for the very first time in the country, an Artificial Intelligence-powered Chatbot (conversational application) titled “TDS Nanban” has also been launched by Sanjai Kumar Verma, IRS, Principal Chief Commissioner of Income Tax, Tamil Nadu & Puducherry, in the presence of M Rathinasamy, IRS,  the then Chief Commissioner of Income Tax (TDS), at Chennai.

This app is aimed at providing information exclusively on TDS related queries viz., the various provisions, the rates, the time lines for remittances and filing of statements, penal provisions etc. This Chatbot is user-friendly and is intended to act as an interface between the Tax payers and the Department, 24 X 7. It is rolled out in English and Tamil.

As it is an information sharing application, it is expected that such information accessed on public domain will be helpful to all the stakeholders. This Chatbot app can be downloaded on Mobile from Play store / App store in both Android and ioS versions, as well as accessed through the Tamil Nadu and Puducherry Income tax website (www.tnincometax.gov.in) through a URL link.

Tags: 4th largestcontributorDirect Taxes exchequerFY23PuducherryTamil Nadu
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