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Advance tax collections for corporate tax, income tax turn positive


Advance tax collections for corporate tax, income tax turn positive
March 17, 2021
 
Advance tax collections for both corporate tax and income tax have turned positive at the end of fourth instalment which was to be paid on March 15. Also, shortfall in net direct collection has come down 4 per cent now as against 9 per cent in January and around 13 per cent after payment of third instalment of advance tax on December 15.
Giving updated figure of advance tax collection, a senior Finance Ministry official said that advance tax collections for corporate tax saw an increase of 8.5 per cent on yearly basis. Similarly, for income tax, advance tax collection is now showing an increase of 2.3 per cent. “Overall outlook is positive. Increase in advance tax for advance tax collection implies that corporate earnings have improved significantly,” the official said. ....

Finance Ministry , Indirect Tax Collection , Advance Tax Collections , Corporate Tax , Income Tax , நிதி அமைச்சகம் , நேரடி வரி சேகரிப்பு , பெருநிறுவன வரி , வருமானம் வரி ,

21.5% growth in direct tax revenue for FY22 a realistic goal: CBDT chairman


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