This content is from: Home
Mumbai to increase tax take as India grows
The Mumbai tax department, which accounts for 35-40% of the country’s total tax take, plans to collect 17.2% more corporate tax than last year.
The revenue authorities have set this target in response to expected buoyancy in the country’s economy.
This year’s projected corporate tax receipts for Mumbai is Rs127,200 crore ($28 billion). The national direct tax target was recently increased by 20% to Rs532,630 crore.
Tax officials hope to know if the targets are going to be met when the next instalment of advance tax collection takes place in September.
The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.
© 2021 Euromoney Institutional Investor PLC. For help please see our FAQ.