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Total tax collection drops 22.54% to Rs 2.54 lakh crore till September 15 of this fiscal
Sep-17-2020

The pace of deceleration in tax collections has slowed down with total tax mop-up touching Rs 2,53,532.3 crore during the period ending September 15, 2020, down 22.54% from Rs 3,27,320.2 crore during the period ending September 15, 2019. The numbers are provisional as banks are yet to update the final figures.

Of the total collection till September 15, when taxpayers, both individuals as well as companies, are supposed to pay advance tax for the quarter, personal income tax collection at the national level stood at Rs 1,47,004.6 crore and corporation tax mop-up at Rs 99,126.2 crore, totalling the two largest components of the tax kitty at Rs 2,46,130.8 crore.

During the first quarter ending June, gross tax collections had fallen by a steeper 31% to Rs 1,37,825 crore, driven down by a massive 76% plunge in advance tax mop-up, as the country was on a full lockdown due to the pandemic.

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