In line with macro environment, the advance tax collections from the top-100 corporates from the financial capital showed a muted growth for the September quarter, with the outgoes increasing by only up to 8 percent, a senior official said Monday.
Advance tax collection from top 100 companies grew to Rs 33,089 crore for April-June period, a rise of mere 5 percent against the annual targetted growth rate of 15 percent, as lead corporates including Reliance Industries and BHEL paid lesser tax compared to the corresponding period last year.
Chairman of Central Board of
Direct Taxes (CBDT) S S N Moorthy today said that first
instalment of advance tax collection in country has registered
a growth of 19 per cent as compared to same period a year ago.