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