Advance tax mop-up falls 25.5% in Q2

Mumbai, September 17

Advance tax collection fell 25.5% to Rs 1,59,057 crore in the second quarter of the fiscal, an income tax official said on Thursday.

However, there was improvement over the first quarter ended June, when advance tax revenue had plunged 76% to a tepid Rs 11,714 crore as the whole economy was under a stringent lockdown. During the year-ago period to September 15, 2019, total advance tax collection had stood at Rs 2,12,889 crore, down from Rs 3,70,652 crore a year ago. — PTI