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Note ban bites income tax dept, Q4 advance tax mop-up falls 10%

Note ban bites income tax dept, Q4 advance tax mop-up falls 10%

Wednesday, March 15, 2017, 10:46 PM

It seems that the demonetisation has badly hit advance tax collection from the megapolis that contributes one-third of the total corporate tax collection with the income tax department on Wednesday saying mop-up fell 10% on a year-on-year basis for the fourth quarter. The department had collected Rs 1.01 lakh crore in advance taxes from the city in the March quarter of previous financial year.
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