-
Jun 18, 2025
-
At Rs 1.5 lkh cr, advance tax mop-up grows just 4% amid global uncertainties
The Centre’s advance tax collections have grown at a tepid pace till June 15 this fiscal, suggesting muted income growth amid global headwinds.
The total collection was Rs 1.54 lakh crore, up 4% from a year earlier, slowing sharply from the corresponding 27% growth last year, dragged down by lower personal income tax payments.
The amount collected was as of 11 pm on June 15. To be sure, with the last two days for making payments falling on a weekend, collection may improve further when these are reconciled later this week, officials added. Advance tax is paid in four instalments in a fiscal year—June 15, September 15, December 15 and March 15.
“A low growth amid high refunds in Q1 may be suggestive of a moderate pace of growth and expected profits, given the continuing global uncertainties related to tariffs and geopolitics,” said Aditi Nayar, chief economist, ICRA.
|