Income Tax dept records 14% rise in revenue
Kolkata: The Income Tax Department in Bengal region has collected Rs 42,000 crore in the current fiscal recording a rise of 14 percent in revenue collection.
"We are on course of meeting our tax collection target, and the growth is partly due to the impact of demonetisation. Personal Income Tax buoyancy is much more than corporate Income Tax," said Bishwanath Jha, Chief Commissioner, Income Tax, Kolkata.
Jha addressed senior industry members at a seminar on Union Budget 2018-19: An Analysis jointly organized by CII and PwC in Kolkata. The Bengal region also includes the state of Sikkim.
In revenue collection, Kolkata is in the top bracket of eight Indian cities which include Mumbai, Delhi and Bengaluru, Jha said. He also sought to spread a message that "very soon no personal interface will be required" with Income Tax officers. "As per a new system, assessments will be done via email. You will send in queries and get replies through emails only. The idea is not only to ease the entire process but also to curb malpractices," Jha said, adding that an official gazette notification about this new system will be issued soon.
"By 31 March 2020, the entire process is scheduled to be completed. An enabling provision has already come in this year's Budget proposals," he said.