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November 12, 2018

Record corporate tax collection in Bangla

Record corporate tax collection in Bangla

As per the latest records of the Government of India, Bangla has witnessed record collection of corporate tax in the first six months of FY 2018-19. The tax collection in the State has been higher than States like Gujarat. The more the number of profit-making industries, the higher is the income tax generation as a result of corporate tax.

September 15 was the last date for the submission of corporate tax for the financial year 2018-19. With a tax generation of Rs 12,330 crore 40 lakh, the State has climbed to the sixth position. This amount is the interim figure; the final figure will be determined at the end of the financial year.

It may mentioned that corporate tax collection in Bangla has been witnessing a steady rise: the figure was Rs 31,385 crore in 2015-16 and Rs 36,541 crore in 2016-17. Last year the target for corporate tax collection was Rs 36,541 crore, which has been met.

Source: Bartaman