Corporate tax collection in Bengal sluggish, says CBDT chairman

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Tuesday , March 11, 2008 at 0118 hrs The growth in direct tax collection in West Bengal falls well below the national average of 41.8%, as corporate tax collection in the state is 'sluggish' this fiscal compared with others.

"Corporate tax collection in West Bengal is sluggish compared with other states," said R Prasad, chairman of the Central Board of Direct Taxes.

The growth of direct tax collection in West Bengal is pegged at 25% over the previous year. Corporate income tax collection (CIT) has been low this year. Till February 29, 2008, CIT was Rs 6,052 crore as against Rs 5,063 crore in 2006-07, registering a growth of 19%.

Personal income tax collection in the state to February 29, 2008, was Rs 2,637 crore, compared with Rs 1,856 crore in 2006-07, a growth of 42%.

Prasad, who addressed at an interactive session organised by the Merchants' Chamber of Commerece here on Monday, said: "West Bengal's growth has not been at par with the national average." The direct tax collection in India has touched Rs 2,36,000 crore, a growth of 41.8% over the last year, he said.

According to TK Chatterjee, chief commissioner of income tax, Kolkata-I, "Corporate tax collection in the state has not been satisfactory. Although quite a few industries have shown interest in setting up units here, the CIT has not grown at the desired level as many of the proposed projects are in gestation period."