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Advance corporation tax collection falls over 10% in Apr-Mar FY20

Total direct tax collections fell over 5 per cent, standing at Rs 9.57 trillion, till March 18 against the revised target of Rs 11.7 trillion for the current fiscal

Advance corporation tax collection falls over 10% in Apr-Mar FY20
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The Centre was optimistic about achieving the direct tax collection target.

Shrimi Choudhary New Delhi
The collection of advance tax paid by corporate houses fell over 10 per cent during April-March 15 of 2019-20. This decline, after the deadline of the fourth instalment ended on March 15, could lead to a revenue shortfall of at least Rs 35,000 crore in the total direct tax collections of the current fiscal, tax officials in the know said. 

Even the tax settlement resolution scheme, Vivaad Se Vishwas, may not help shore up coffers due to the Covid-19 pandemic that has halted all outreach programmes by the income-tax department, an official said. 

Total direct tax collections fell over 5

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