Gujarat has witnessed a significant surge of 49 per cent in the number of 'crorepati' taxpayers, individuals declaring an annual income of Rs 1 crore or more, for the assessment year 2022-23, as per the latest data from the Central Board of Direct Taxes (CBDT).
Comparatively, the count of individuals with taxable income exceeding Rs 1 crore surged by 4,500, reaching a record-breaking figure of 14,000, as indicated by official statistics, in contrast to the 9,300 individuals in the ...
Gujarat witnesses 49% surge in crorepati taxpayers
In the financial year 2022-23, Gujarat experienced a boost in income tax (I-T) collections, with the figures rising by 13 per cent from the previous year.
According to data released by the I-T department, the collections soared from Rs 36,800 crore in FY 2021-22 to Rs 41,700 crore in FY 2022-23.
The amount comprised various components, including Rs 24,800 crore from tax deducted at source (TDS), Rs 17,300 crore from advance tax, Rs 7,800 crore from self-assessment, and Rs 1,000 crore fr...
Gujarat witnessed 13% rise in IT collections in FY 2022-23
In a significant development for the state power sector, Torrent Power Ltd. Gujarat will construct three Pumped Storage Hydro (PSH) projects of 5,700-MW, costing around Rs 27,000 crore, in Maharashtra, an official said here on Wednesday.
The Maharashtra government has inked an MoU with TPL, Ahmedabad, in the presence of Deputy Chief Minister Devendra Fadnavis, for the project which is expected to generate around 13,500 jobs during the five-year long construction period.
The projects sha...
Gujarat firm to build 3 PSH power plants of 5,700 MW in Maharashtra
