Income tax collection in Bengal increases 25% at 12100 Cr

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Kolkata, Apr 10 (UNI) Income tax collection in West Bengal has increased by 25 per cent, approximately to Rs 12,100 crore in 2007-08, and the high yield was attributed to largescale voluntary disclosure, according to Chief Commissioner of Income Tax T K Chatterjee.

After the provisional figures of personal income taxes and corporate taxes for financial year 2007-08 were compiled, Kolkata's share was Rs 11,500 crore of the total collection, Mr Chatterjee told a news conference today.

He said another Rs 500 crore was expected from these two areas, which meant it would go up to Rs 12,600 crore, as many accounts were yet to be compiled. Tax Deduction at Sources accounted for Rs 3039 crore under personal income tax collection (TDSs) during the last fiscal and corporate tax stood at Rs 8602 crore of the total collection.

Last year personal tax income and corporate taxes figures were Rs 9,770 crore.

Tax collected among the corporate houses, mining sector contribution was Rs 870 crore, tea Rs 109.30 crore, Banks- Allahabad, United Bank of India and UCO- were Rs 288.50 crore, Birla groups Rs 432 crore, ITC Rs 16,85 crore.

Mr Chatterjee while appreciating his hardworking inadequate staff, attributed the voluntary disclosure and arrears collection were major contributors for enhancing tax realisation.

He said the year also saw large number of refunds of Rs 2,286 crore , compared to 1,837 crore in 2006-07 fiscal year.

So far 49 lakh people were provided PAN card and around 25 lakh assessees in West Bengal.

Regarding setting up of Large Tax Unit (LTU) in Kolkata, he said there was not much progress after such unit came up only in Mumbai and Bangalore. The LTU is a facility where all sort of taxes work could be done under one roof.

UNI PC KK KLC1732

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