₹12,000 crore, as of 15 June, the due date for the first instalment, down from ₹50,000 crore a year ago. This is a drastic drop.
It reflects the poor earnings outlook of individuals as well as corporations, and makes it evident that India’s budget calculations need to be reworked.
Key tax jurisdictions, such as Mumbai, Delhi, Kolkata, Chennai and Ahmedabad, have reported a precipitous fall in tax collections.
Many of our prime business centres are still in the grip of coronavirus, which makes it unlikely that they will bounce back anytime soon.
Read more on livemint.com