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Calcutta, Sept. 8: Growth in direct tax collection from the Bengal circle is likely to be flat in the current financial year.
The circle, comprising Bengal, Sikkim and Andaman and Nicobar Islands, is looking at a 15 per cent growth in revenue collection this year, D. Dasgupta, commissioner of Income Tax II (Calcutta), told The Telegraph on the sidelines of the annual conference of the Direct Tax Professionals’ Association here today.
In 2010-11, the direct tax mop-up from this zone was Rs 22,000 crore, a growth of 22 per cent. In 2011-12, collection was over Rs 25,000 crore, growing by about 14 per cent.
Dasgupta said the trend of flat growth in revenue was in line with the general slowdown of the Indian economy and the decline in industrial production.
Gross direct tax collection of the country from April to June rose only 4.68 per cent to Rs 1.39 lakh crore from Rs 1.32 lakh crore in the year-ago period on the back of a slowdown in industrial growth. The government plans to increase its revenue collection from direct taxes to 12 per cent of GDP.
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