Top 100 firms pay 14 pct higher advance tax in June quarter | business | Hindustan Times
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Top 100 firms pay 14 pct higher advance tax in June quarter

Top 100 firms in the Mumbai tax region paid 14% higher advance tax in April-June compared to a year ago, a top official from the income-tax department said today

business Updated: Jun 15, 2011 17:44 IST

Top 100 firms in the Mumbai tax region paid 14% higher advance tax in April-June compared to a year ago, a top official from the income-tax department said on Wednesday.

"This is the first quarter so considering that it (advance tax collection) is quite satisfactory... growth is likely be more in the second, third and fourth quarters," P P Srivastava, chief commissioner of income tax, Mumbai, said.

The target for the Mumbai tax region for the year-ending March 2012 is 1.85 trillion rupees compared with 1.53 trillion rupees collected a year ago, Srivastava said.