« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  India Inc lobbies for corp tax cut, finmin resists... Pvt PF & superannuation funds' equity returns set to be... » Mumbai tax collection up 20% at Rs 67,426 cr December, 13th 2008 The tax collection from Mumbai grew 20% to Rs 67,426 crore in the current financial year till December 11 over the corresponding period last year. Mumbai accounts for 35-40% of the country's total tax collection. Addressing a press conference on Friday, I-T chief commissioner in Mumbai PC Chhotray said if the collection from securities transaction tax (STT) was factored into the calculation, growth in tax collection would be 16.9%. STT collection has gone down by 15% to Rs 4,333 crore from Rs 5,099 crore in a year ago period. This is understandable, in view of the sluggish trend in the stock market, Mr Chhotray said. He said the tax collection from banks, both domestic and foreign, has gone up substantially. Infrastructure and engineering industries are the other sectors that recorded impressive growth in tax outgo. "The third installment of advance tax payments in December is critical as this clearly would indicate the profits and tax outgo of the corporate as well as the tax collection of the department," he added. Mr Chhotray said a growing concern for the I-T department is non-payment of proper advance tax. Instead of paying advance tax in four installments, many taxpayers opt to pay less tax during the year and adjust the balance tax dues as self assessment tax at the end of the year, he added.