Advance tax collection seen up 20 per cent

With the economy gradually emerging out of the slowdown, advance tax collection in Mumbai, the country’s financial capital, is expected to rise by 20 per cent in the second half of this fiscal against the same quarter in FY’09.

Mumbai accounts for almost 40 per cent of the country’stax collection.

The growth is most likely to come on the back of a higher collection from banking, oil and gas and auto sectors, to name a few.