Milestone: Over Rs 55K cr collected as income tax in state for 2021-22 FY

KOLKATA: The Income Tax department collected Rs 55,588 crore in Bengal for 2021-22 fiscal. This is an all-time record collection and is 43.3 per cent more than that of 2020-21. The high corporate tax collection indicates that income in the sector has gone up remarkably.

The best five in the payment of advance tax in Bengal are ITC (paid Rs 4,508 crore); Exide (paid Rs 1,063 crore); Rungta Sons (paid Rs 890 crore); Bandhan Bank (paid Rs 687 crore) and Reckitt Benckiser (paid Rs 554 crore). IT department sources said income tax worth Rs 13.95 lakh crore has been collected.

The first three states are Maharashtra, Karnataka and Delhi. Bengal ranks ninth. Corporate tax worth Rs 32,495 crore has been collected in one year. Senior officials said for the first time more than Rs 30,000 crore has been collected from the industry.

There was a time when the corporate tax was 30 per cent. The Centre, over a period of time, brought it down in phases.