Indore: Indore witnessed a sharp rise in the number of crorepatis (those with annual income of Rs 1 crore or more) in the just concluded fiscal -- from 260 to 423, amounting to a 63 per cent growth.
These millionaires were not from the political class, because most ministers file returns in the state capital Bhopal, said Chief Income Tax Commissioner, Indore Division, Surendra Mishra.
Many of these persons were real estate businessmen, he said. The number grew last fiscal because more people were filing returns now, he said.
Though the number of surveys (raids) carried out by the IT sleuths here declined from 249 in 2010-11 to 95 in 2011-12, the unaccounted income admitted by tax evaders was Rs 323.85 crore last fiscal, against Rs 222 cr in 2010-11, Mishra said.
Assessees having income above Rs 10 lakh also recorded a growth of 42 per cent (8,752 in FY 2011-12 as against 6,158 in FY 2010-11).
Corporate Tax collection stood at Rs 983 cr in 2011-12 against the target of Rs 1,270 cr, Mishra said, adding that this was because many big corporates shifted offices to Mumbai.
Total direct tax collection of Indore division in last FY was Rs 2,033 cr against the target of Rs 1,600 cr.