State ready to meet tax target
Jamshedpur, Feb. 2: The income-tax department’s Bihar and Jharkhand circles have managed to put up a good show compared to last year despite recession.
Senior officials of the department, on the sidelines of a seminar on TDS/TCS at TMDC Auditorium this evening, said that the combined collection of both the circles till December 31 stands at Rs 1,980 crore, an 11 per cent increase compared to last year’s figure during the same period. This year’s combined collection target for both the circles stands at Rs 3,247 crore.
Ujjwal Choudhary, the commissioner of income-tax, TDS Patna, said that some good performance on the TDS front has helped the department achieve the target despite recession. Both the circles, till December 31, have managed to collect TDS of Rs 1,018 crore, a 19 per cent increase against last year’s figure. The department has a TDS target of Rs 1,280 crore for this financial year.
“Implementation of the Sixth Pay Commission has helped us post a good show till now. Since most of the TDS comes in the past two months of the fiscal, we expect to achieve our target, at least on this front,” Choudhary added.
K. Sarkar, the commissioner of income-tax, Jamshedpur circle, said that the economic activities of business concerns were facing difficult times owing to global recession, but he hoped that the situation would change in the last two months of the financial year, as economy is again on the right trend of growth.
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