Total tax collection of the Centre, including advance tax collection for the second quarter, fell 22.5% to Rs 2,53,532.3 crore till September 15 of the current fiscal as compared to the year-ago period, according to an income tax department source. The source shared some details about the provisional data.
During the same period ended September 15, 2019, total tax collection stood at Rs 3,27,320.2 crore, the income tax department source from Mumbai zone said over the phone on Wednesday.
Rs 2,46,131 cr mopped up
During the same period ended September 15, 2019, total tax collection stood at Rs3,27,320.2 crore
During the first quarter ended June, gross tax collection fell 31% driven down by a massive 76% plunge in advance tax mop-up
Of the total collection till September 15, personal income tax at the national level stood at Rs1,47,004.6 crore and corporation tax at Rs99,126.2 crore
However, the source refused to share the advance tax numbers separately for the current quarter.
During the first quarter ended June, gross tax collection fell 31% driven down by a massive 76% plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
Of the total collection till September 15, when taxpayers, both individuals and companies, are supposed to pay advance tax for the quarter, personal income tax at the national level stood at Rs 1,47,004.6 crore and corporation tax at Rs 99,126.2 crore, totalling the two major components of the tax revenue at Rs 2,46,130.8 crore, the source said.
The total collection fell 22.5%, led by a 13.9% dip in collection from Mumbai, which is the largest tax base, contributing to more than a third of the national collection.
