India Inc's advance tax mop-up surges 171% in Q1, Mumbai collection up 133%

Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year, according to data compiled by the tax dept.

India Inc’s advance tax figures grew exponentially by 171 per cent during the first quarter of 2019-20, prompting the tax authorities to say that the economy may be back on track after witnessing lacklustre growth in earlier quarters.
 
In overall direct tax collection, Mumbai has registered 133 per cent growth, collecting  Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year, according to the data compiled by the tax department.
 
Corporate tax collections stood at Rs 14,873 crore, against Rs 5,477 crore a year ago. Individuals paid Rs 2,301 crore, up 22.4