Income Tax collection up 13% in Bengal & Sikkim in April-January

February 02, 2018 | -839.91 | Reason: Stricter tax rules for stock investments and the easing of fiscal deficit

Income Tax collection in West Bengal and Sikkim circle has witnessed 13 per cent growth in the current fiscal till now and the department is optimistic about achieving the target.

The target for 2017-18 is Rs 41,891 crore and the department has been able to collect 69 per cent of the target till now, a top income-tax official said.

"As on date, we have collected nearly Rs 29,000 crore. Tax collections have gone up by around 13 per cent this year and we can achieve the target,” principal chief commissioner of income-tax for West Bengal & Sikkim, K L Maheshwari said. In the corresponding period of the last fiscal, I-T collections had been Rs 25,500 crore against a target of Rs 35,500 crore for 2016-17, Maheshwari said.

However, there had been a decline in the share of TDS or tax deductions at source in overall collections due to centralisation of TAN or tax deduction and collection account number by banks. Maheshwari was speaking on the sidelines of the release of 'Income Tax Pleading and Practice', a book by Narayan Jain and Dilip Loyalka here yesterday.