Kohima, March 27 (MExN): Despite the constraints of manpower and resources, the Directorate of Nagaland State Lotteries is committed to improving revenue earnings with the support and guidance from the government and cooperation from the Sole Selling Agents of the Nagaland State Lotteries.
The revenue earnings of the department have steadily increased to a great extent, according to the annual administrative report of the finance department.
The revenue target of the department for the current financial year (2005-06) is Rs. 10.5 crores only. Out of this, the department has already collected an amount of Rs. 13.67 crores as on 31 January 2006, exceeding the target.
For the remaining period of two months ending March 31, 2005, the department expects to collect an additional amount of Rs. 2 crores, bringing the total revenue earnings to about Rs. 15 crores, the report said.
With this, the revenue performance during the current financial year can be considered outstanding, it said.
The report also stated that the Nagaland State Lotteries department not only generate revenue for the Government of Nagaland, but also earns sizeable revenue for the Government of India in the form of income tax being deducted from the prize money at the rate of 30 per cent plus 2 per cent surcharge as well as Tax Deduction at Source (TDS) at the rate of 2 per cent against the payment of the printing charges to the printers of the Nagaland State Paper lotteries.
Further, through Nagaland State Lotteries, many other lottery running states like Sikkim, Arunachal Pradesh, West Bengal, Maharastra, Kerela etc. where 98 per cent of the state lottery’s tickets are being marketed, do earn sizable revenue in the form of sale tax.
Likewise, the state also earns revenue in the form of sale tax from the sale of lottery tickets of others states marketed in our state, the report added.
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