Advance tax collection up 52% in September quarter, shows CBDT data

Advance tax collection during the second quarter of the fiscal year grew over 50 per cent over the equivalent period in 2020-21, providing the government with additional spending power to fuel economic recovery after the disruption caused by the second Covid-19 wave earlier this year.
 
The advance tax mop-up in the second quarter between July 1 and September 22 stood at Rs 1.72 trillion, a growth rate of 52.2 per cent over the Rs 1.13 trillion in the same period last year, the preliminary data released on Friday by the Central Board of Direct Taxes showed.
 
Advance tax in the April-September period stood at Rs 2.53 trillion, a 56 per cent growth rate over the Rs 1.62 trillion