Sep 18, 2023
Q2 advance tax receipts jump 24%
The Centre’s advance direct tax receipts for the second quarter of the current fiscal from companies, LLPs and individuals rose by a robust 24% on year to Rs 2.38 trillion as per the data till Saturday, aided by a sharp increase in income tax receipts and a rebound in corporate tax collections.
Higher corporate profitability in Q2 amid an easing of input costs led to buoyancy in the quarterly advance tax mop-up. The advance tax receipts had grown by 14% on year in Q1FY24 and by 10% on year in Q2FY23.