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Chandigarh seeing a steep rise in IT Returns

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Chandigarh seeing a steep rise in IT Returns

Last updated: April 9 2007
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  • Chandigarh seeing a steep rise in IT Returns

    Real Estate and chandigarh is turning out to be one of the Real Estate hotspot in India. As an after affect in Chandigarh and the areas near to chandigarh is seeing a rise in IT returns as compared to previous Year.

    Benefiting from the real estate boom and the services sector growth, the number of income tax returns filed from Mohali and its suburbs, right up to Ropar and Nangal, saw a definite growth till March 31 this year as compared to the last fiscal.

    Data available with the income tax department shows that while the number of returns from some villages in Chandigarh and parts of Mohali went up from 85,277 in 2005-06 to 90,322 this fiscal year, that of Mohali proper and areas including Kharar, Ropar and Nangal went up from 55,139 in 2005-06 to 60,017.

    According to income tax officials, an increase in peoples' income from jobs and business has led to this increase in returns.

    The property boom in Mohali in the last year led to further investments in real estate up till Ropar and Nangal as a ripple effect improving incomes of people."

    So Chandigarh is on all the way to become a merry town. Lets see, What happens Next ?
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