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News INCOME TAX

  • Sep 20, 2017
  • NPA-laden PSBs crimp advance tax mop-up at 10.6%

    A steep fall in advance tax payouts by bad loan-saddled state-run banks has led to a muted 10.6 per cent growth in overall revenue mop-up from large corporates in the megapolis in the September quarter.The overall mop-up at Rs. 69,000 crore, up 10.64 per cent, is tepid even though other sectors like steel and even private sector lenders have done comparatively well, income tax department sources said today.Unsatisfied with the collection, the department has asked its officials to keep a close vigil on the forthcoming quarterly results by large corporates.

    Source - http://www.thehindubusinessline.com