Gradual revival in economic activity? Decline in direct tax mop up eases






The rate of contraction in direct tax collection has reduced thanks to the payment of the second installment of advance tax, indicating a gradual revival of economic activity in some sectors in the current quarter.

Direct tax collections, net of refunds, declined by 22.6 per cent year-on-year (YoY) as of September 15, compared to a 30 per cent contraction till September 2. The decline in gross direct tax collections slowed to 16… Gradual revival in economic activity? Decline in direct tax mop up eases