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Mumbai records 9% rise in Income Tax Collection

Updated on: 08 Sep, 2023 12:50 PM

Mumbai on its way to achieve targeted Income Tax collection of ?2.79 lakh crore for this year!

Income tax collections in the first four months of the year from the Mumbai Zone constituting 1/3rd of the total tax collection noticed a hike of 9% amounting to ?67,185 as compared to ?61,415 crore during the same period in the last year.

The rise of 9% is majorly driven by Advance tax collection which recorded an increase of 134% at ?1,536 crore during the reporting period from merely ?656 crore a year ago.

CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.