Total tax collection falls 22.5% till September 15: Source

MUMBAI: Total tax collection of the Centre, together with advance tax collection for the second quarter, fell 22.5 per cent to Rs 2,53,532.Three crore till September 15 of the present fiscal as in comparison with the year-ago interval, in accordance with an income tax division supply.
The supply shared some particulars in regards to the provisional information.
During the identical interval ended September 15, 2019, whole tax collection stood at Rs 3,27,320.2 crore, the earnings tax division supply from Mumbai zone advised PTI over telephone on Wednesday.
However, the supply refused to share the advance tax numbers individually for the present quarter.
The numbers are provisional as banks will be capable to replace the ultimate information by the top of the day, the supply mentioned.
During the primary quarter ended June, gross tax collections fell 31 per cent pushed down by a large 76 per cent plunge prematurely tax mop-up, because the nation was in a full lockdown as a result of pandemic.
Of the whole collection till September 15, when taxpayers, each people and firms, are presupposed to pay advance tax for the quarter, private earnings tax on the nationwide degree stood at Rs 1,47,004.6 crore and company tax at Rs 99,126.2 crore, totalling the 2 main elements of the tax income at Rs 2,46,130.eight crore, the supply mentioned.
The whole collection fell 22.5 per cent, led by a 13.9 per cent dip in collections from Mumbai, which is the biggest tax base, contributing to greater than a 3rd of the nationwide collection.
The megapolis nonetheless continues to be probably the most affected area by the pandemic.
Total collection from the nation’s monetary capital fell to Rs 74,789.6 crore, down 13.9 per cent year-on-year (y-o-y), the supply mentioned however refused to share advance tax numbers for the quarter.
Of the whole mop-up from Mumbai, whole private earnings tax till September 15, stood at Rs 34,808.eight crore and company tax was at Rs 32,921.2 crore.
Among the key tax collection zones, Bengaluru is the one zone the place collection grew y-o-y clipping at 9.9 per cent over the previous 12 months.
The tech metropolis contributed Rs 40,665.Three crore to the nationwide tax kitty, up from Rs 36,986 crore a 12 months in the past, whereas Kochi reported the worst collection for the 12 months with a large 49 per cent plunge in collections at Rs 3,214.7 crore, the supply mentioned.
The numbers are provisional as banks will be capable to replace the ultimate information by the top of the day, the supply added.

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Shekh Shahrukh

Shekh Shahrukh is a digital marketer, Entrepreneur, and a Journalism student at Delhi University. A news writer by day and news seeker by night, he is loathed to discuss himself in a third person but can be persuaded to do so from time to time.

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