Income-tax department calls big corporate entities to pay advance taxes

Afraid of missing target, taxmen encourage companies not to delay September instalment

The income-tax (I-T) department is “coaxing” top corporate entities to make the 45 per cent of the total advance tax payment by September 15, the due date for the second instalment.

Sources said tax officials were meeting executives of the top 45-50 advance tax-paying firms to persuade them to make the payment of 45 per cent of the full-year’s advance tax.

The Central Board of Direct Taxes (CBDT) in a recent meeting directed income-tax commissioners to pull up their socks on revenue collection. The CBDT has set an October deadline for achieving the desired growth rate of tax collection.

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