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Patna, (Bihar Times): The Income Tax collection of Bihar and Jharkhand have been hit badly hit because of the global economic slowdown. It could collect just Rs 1,980 crore till date, an 11 per cent rise over the corresponding period in the last financial year but far short of the target of Rs 3,247 crore for 2008-09.
However, its collection on account of tax deducted at source/tax collected at source (TDS/TCS) has shown a rise of around 19 per cent so far.
The total TDS/TCS target collection figure of Bihar and Jharkhand has been fixed at Rs 1,810 crore for the current year, but till January 24 the department had collected Rs 1,280 crore.
Reports said that the Income Tax authorities are hopeful that the collection from TDS/TCS in March and February would help it not only achieve but even exceed the target figure of Rs 1,810 crore. Traditionally, these are the two months when the major portion of TDS/TCS collection takes place.
The department is also confident to achieve its full target despite the slowdown so far.
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