Big jump in Income Tax collection in Bihar, Jharkhand

Patna,(BiharTimes): Though no major investment has been made in the recent months the Income-Tax department’s Patna region, which comprises the states of Bihar and Jharkhand, has achieved the highest growth rate in collection of income-tax and corporate tax in the first half of current financial year.
It achieved a net growth of 26.8% over the same period last year even though the first six months is to be completed on September 30.

Departmental sources said over Rs 3,322.5 crore has been collected as income-tax and corporate tax, against over Rs 2,619.5 crore in the same period last year.

As the two states had not seen any major investment in the recent months the rise in taxes is being attributed to the efforts made by Income Tax department.

Not only is this the highest growth rate among all regions in the country, it is much higher than the average national growth of 12.5%.

The region is showing constant increase in the collection of taxes. For example the total revenue collection of this region was Rs 4,263.7 crore in 2010-11 but in 2011-12 it jumped to Rs 5,132.3 crore.