Gujarat Income Tax department here on Sunday celebrated the 162nd year of Income Tax Day or Aaykar Diwas by felicitating top taxpayers from the State. The department also acknowledged retired I-T officials whose efforts led to the success of State I-T dept.
Principal CCIT, Gujarat Ravindra Kumar, Justice Mauna Bhatt of Gujarat High Court, Cadila Healthcare Chairman Pankaj Patel, CCIT-1, Ahmedabad SS Rana along with I-T officials and taxpayers come together to celebrate the introduction of provision of income tax in the country.
Interestingly on July 24, 1860, Sir James Wilson introduced income tax for the first time in India.
Principal CCIT, Gujarat Ravindra Kumar, said “Revenues are the backbone of administration. Over the years, the Income tax department has grown immensely. In 1940, total tax collection in India was Rs 20 crores, in 1947 it was Rs 118 crores and in 2022 it grew to Rs 13.85 lakh crores. This was possible only due to taxpayers and I-T officials.”
‘Toughest thing to understand: income tax’
Cadila Healthcare Chairman Pankaj Patel “It is rightly said that the toughest thing to understand is Income Tax. Many people do not want to understand income tax as they are not willing to pay it. Currently, due to the faceless assessment system it has become a lot easier for my employees to pay tax and I’m grateful to the I-T dept of Gujarat.”
Tax evasion is crime, tax planning is not.
Justice Mauna Bhatt said, “Tax evasion is a crime, tax planning is not. I hope more taxpayers plan their income well to grow their capital. In the past 50 years, the I-T department has tilted in the favour of taxpayers and is a welcome change.” With this she presented appreciation certificate to taxpayers from Gujarat and interestingly, most are from Ahmedabad:
- Top taxpayer in super senior citizen category (more than 80 years of age): Pravin Bhagwati, chairman, Bhagwati Spherocast Pvt Ltd
- Top individual taxpayers having gross tax payment more than 10 lakhs:
- Udaykumar Patel, LineOMatic – Paper Processing Machineries Suppliers. It is a Limited Liability Partnership company.
- Dr. Harsh Desai, Obstetrician and Gynecologist and the Department director at Sterling Hospital, Ahmedabad. He has been in the field for over 20 years.
- Top taxpayer in the category of newly established company that opted tax under section 115BAB, having gross tax payment less than 10 lakhs: Rashi ornaments Pvt Ltd, Ahmedabad.
Backbone of the Income Tax department are its officials and therefore, Gujarat’s I-T department also appreciated the efforts of the members of the fraternity.
First IRS From Gujarat
First ever Indian Revenue Service (IRS) officer from Gujarat, Retired CCIT NO Parekh joined the department in 1951 and after serving the department for 34 years, he retired in 1985 as Chief commissioner.
I-T officer for 41 years
Another retired Income Tax officer PP Gami was also felicitated. He joined the department in 1964 and after serving the department for 41 years, he retired in 2005.