Mumbai: The central government’s total tax collection, including advance collection till September 15 in the current financial year, is 22.5 per cent at Rs 2,53,532.3 crore compared to the same period a year ago. A source of income tax department gave information about this.
The source has shared some information about the primary data of tax collection. A source in the Mumbai region of the Income Tax Department told today that the total tax collection till September 15 in the last financial year was Rs 3,27,320.2 crore. However, it refused to separately state the advance tax collection data for the current quarter (second quarter).
The source said that this figure is not yet final, as banks can make changes by the end of the day. Total tax collections were down 31 percent during the first quarter ended in June of the current financial year. During this period, there was a huge decline of 76 percent in advance tax collection.
The decline was due to a lockdown implemented nationwide to prevent the corona virus epidemic. The total income tax collected till September 15 in this financial year was Rs 1,47,004.6 crore and personal income tax Rs 99,126.2 crore. These two are the major components of revenue collection and together these two collected the total tax collection of Rs 2,46,130.8 crore. Total collections declined by 22.5 percent. The maximum decline was 13.9 percent in Mumbai region.
Mumbai still remains the most affected by the corona virus epidemic. The total tax collection in Mumbai fell by 13.9 percent to Rs 74,789.6 crore from a year earlier. Of this, personal income tax was Rs 34,808.8 crore and corporate income tax was Rs 32,921.2 crore.
According to the source, Bengaluru was the only one in the major areas where the total tax collections on an annual basis increased. Bengaluru’s total tax collection rose 9.9 percent to Rs 40,665.3 crore from Rs 36,986 crore a year ago. During this period, the total tax collection of Kochi dropped by a whopping 49 percent to Rs 3,214.7 crore.
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