The Telegraph
Thursday , March 13 , 2014
CIMA Gallary

Bengal to miss tax target

G. N. Pande in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury

Calcutta, March 12: The income tax collection in the Bengal circle, including Sikkim and Andaman and Nicobar islands, could fall short of the budgeted target by about Rs 900-1,000 crore for 2013-14.

“Till March 11, the gross tax collection this year has been Rs 26,054.70 crore. The final collection could be about Rs 29,000 crore against a budgeted target of Rs 29,953 crore,” Girish N. Pande, chief commissioner of income tax, Calcutta, said today.

According to Pande, the slippage in tax collection target is primarily on account of the less-than-expected growth in corporate tax rate because of weak macroeconomic conditions.

As on March 11, corporate tax has grown 12.46 per cent to Rs 14,729 crore and income tax has risen 9.46 per cent to Rs 6,786 crore.

Further, advance tax collection has shown a modest growth of 2.67 per cent to Rs 10,131.20 crore.