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Bengaluru bucks trend despite Covid-19, sees direct tax mop-up growth

With technology companies largely unaffected by the Covid-19 lockdown, Bengaluru has posted a 7 per cent increase in direct tax mop-up

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Kochi posted a 47 per cent decline in collections, followed by Ahmedabad (-46 per cent), Chennai (-43 per cent), Delhi (-38 per cent) and Hyderabad (-32 per cent). Mumbai witnessed a drop of 20 per cent

Dilasha Seth New Delhi

4 min read Last Updated : Sep 05 2020 | 1:01 AM IST

In the run-up to the deadline for paying advance tax, India’s Silicon Valley has emerged as the lone bright spot in the direct tax collection trend.

With technology companies largely unaffected by the Covid-19 lockdown, Bengaluru has posted a 7 per cent increase in direct tax mop-up, as against a 30 per cent decline in the overall collection as of September 2.

Bengaluru is the only jurisdiction reporting growth, while others are in deep negative led by Kolkata, which has seen collections decline by 66 per cent compared to the same period last year.

Direct tax collection, net of refunds, stood at Rs

Topics : Coronavirus Bengaluru IT companies direct tax collections Indian Economy