Categories: Business

gross direct tax collection fall 31 percent in q1 till june 15

Photo: GOOGLE

tax collection

new Delhi. During the first quarter of the current financial year, Gross Direct Tax Collection declined by 31 percent till 15 June. In this also, the receipt of corporate tax as advance tax has come down by 79 percent. An official gave this information on Tuesday. "In the first quarter of the financial year 2020-2021, the gross direct tax collection as on June 15 has come down by 31 percent to Rs. 1,37,825 crore," an Income Tax Department official told PTI. A year ago in June 2019, this amount was Rs 1,99,755 crore.

The last date for companies to pay advance tax during the first quarter is June 15. The first two months of the first quarter of the current fiscal were fully under lockdown in the country. This lockdown was imposed from March 25 to control the corona virus epidemic, which was carried forward in several stages. As a result, about 80 percent of the economic activities in the country remained closed. Although the lockdown has started to be lifted in a phased manner from June 1, activities have not fully normalized in the economy.

This post was published on June 16, 2020 4:49 pm

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