"So far, we have collected Rs 18,500 crore as advance tax as compared to Rs 10,600 crore in the year ago period," a Mumbai Income Tax official said.
The impact of the slow down on the corporate sector started only after mid-May, but before that they recorded a good performance, the official said, adding that this has boosted the tax collection.
The rise in advance tax collection has been backed by good collection from sectors like banking, cement and auto.
All India too, the revenue collection through direct taxes during the April-June period has gone up by 71 per cent.
Upbeat over the robust tax collection, Union Finance Minister, P Chidambaram, recently asked the Central Board of Direct Taxes to revise the budget estimate of Rs 3,65,000 crore to Rs 4,00,000 crore.
During the last fiscal, the Government had mopped up revenue of Rs 3,14,000 crore on account of collections from direct taxes.
