Advance tax mop-up declines 25%, indicates economic health recovery

However, this is an improvement over the 40% decline seen in Q1; TDS down between 10 and 12% across jurisdictions

Advance tax collections from top jurisdictions have fallen by around 25 per cent on average, as against about 40 per cent decline seen in the first quarter (Q1), indicating optimism on earnings of corporate houses as the economy gradually recovers from the lockdown.
 
Overall, net direct tax collection after the advance tax payments stood at Rs 3.28 trillion, down 25 per cent from last year’s Rs 4.4 trillion. Gross collections are down 20.1 per cent to Rs 4.33 trillion and refunds up 4 per cent to Rs 1.05 trillion as of September 16. Incidentally, while Beng­aluru had shown 10