Govt faces direct tax mop-up shortfall, collects Rs 4 trn as advance tax

RS 4 trillion collected in advance tax; SBI, ONGC, PNB top the list

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The income-tax (I-T) department collected over Rs 4 trillion as advance tax from corporates and individuals as of March 15 in the current financial year, about 15 per cent more compared with the tax mop-up in the corresponding period last year. 

However, the total direct tax collection stood at a little over Rs 9 trillion, giving the taxman just two weeks to reach the 2018-19 revised target of Rs 12 trillion.