Income tax collection from Mumbai rises 9 pc to Rs 67,185 cr

Mumbai, Aug 21 (PTI) Income tax collection from theMumbai zone, which sends one-third of the total direct taxcollections, grew by around 9 per cent to Rs 67,185 crore inApril-July, driven by a massive spike in advance collectionsfrom individuals. In the first four months of the last financial year, thecollections from the region stood at Rs 61,415 crore. According to the department data, advance tax collectionfrom individuals increased by 134 per cent at Rs 1,536 croreduring the reporting period from merely Rs 656 crore a yearago. The Mumbai region officials are confident of meeting thetarget of Rs 2.79 lakh crore by the end of the year. "In the first quarter, the performance of certain sectorswas not very encouraging. Despite this, collection has goneup," the principal chief commissioner of income tax in Mumbai,DS Saksena told PTI. "We are quite confident of reaching our target for theyear," he added. The region’s collection of advance tax from corporatesgrew 7 per cent at Rs 20,334 crore during the first fourmonths of the year from Rs 18,977 crore a year ago. TDS collections from corporates rose to Rs 14,572 crore,up 15 per cent from Rs 12,695 crore a year ago. Similarly, TDS collections from individuals also went upby 15 per cent to Rs 17,685 crore from Rs 15,317 crore ayear ago. Saksena said, "Earlier, non-corporate taxpayers didn’t paythe first instalment on June 15. But as per the revised norms,both corporate and non-corporate taxpayers have been mandatedto do so." For the country as whole, direct tax collections grew24 per cent to Rs 1.59 lakh crore during the April-Julyperiod. PTI KD BEN NP MR SBTABKSRE