Bengal circle direct tax collection rises 23.8 percent
February, 25th 2009
Direct tax collection in Bengal circle has increased 23.8 percent to Rs.103.16 billion (Rs.10,316 crore) during the first 10 months of 2008-09, a top tax official said Tuesday. Of this, corporate tax was Rs.70.22 billion, while personal income tax collection stood at Rs.29.54 billion, Chief Income Tax Commissioner T.K. Chatterjee told reporters.
The Bengal circle comprises West Bengal, Sikkim and Andaman and Nicobar Islands.
Chatterjee said the buoyancy in tax collection this fiscal has followed a 22 percent growth in corporate tax collection and 32 percent in personal income tax collection.
Growth in personal tax collection was due to wider applicability of TDS (tax deducted at source), he said.
Chatterjee added that TDS collection has seen an upswing of 35.07 percent to reach Rs.37.14 billion in April-December 2008 as against Rs.27.5 billion in the year-ago period.
The Tax authorities refunded Rs.13.07 billion to the corporate sector in April-December 2008 compared to Rs.11.48 billion in the corresponding period in 2007.
Regarding advance tax payment, Chatterjee said till January the figure was higher at Rs.52.37 billion compared to Rs.48.07 billion in the year ago period.