Revenue collection from tax deducted at source (TDS) fell 22 per cent from May 1 to May 10, the last day for TDS payment. This indicates large layoffs and salary cuts in April, besides stagnant rental activity due to the coronavirus (Covid-19) lockdown.
TDS collections stood at around Rs 44,110 crore between May 1 and May 10, against Rs 56,447 crore mopped up in the same period last year. In fact, gross direct tax collections from April 1 to May 10 this fiscal year were down 14.6 per cent at Rs 85,665 crore against Rs 1 trillion in the corresponding period of last year. ...
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST Rs
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
First Published: Mon, May 11 2020. 23:39 IST
