SEBI Reg. Investment Advisor

Download App
Help Center Pricing
Money Works 4 Me Logo MoneyWorks4Me
Login Get Free Account
Sign Up

MoneyWorks4Me

Log In Sign Up Schedule Free 15‑min Call
Login Get Free Account
Sign Up
  1. Home
  2. Stock Market News
  3. Sluggish growth may hit corporate advance tax collection: Finance Secretary

Sluggish growth may hit corporate advance tax collection: Finance Secretary

17 Jun 2011 Evaluate

In spite of recording a 14 percent rise in advance tax collection from 100 corporates in the nation’s financial capital in the first quarter of 2011-12 compared to the corresponding period a year before, the Finance Ministry said that corporate tax collection could take a beating in the current fiscal. The Finance secretary Sunil Mitra said, “The government is worried over sluggish growth in corporate advance tax collection but there is still no reason to doubt it would miss the budget deficit aim for this fiscal year.”

For the current financial year, government had set the target of 4.6 percent of gross domestic products (GDP) and last year government’s fiscal deficit was at 4.7 percent of GDP much below from the target level, because of healthy tax collection. This year government is aiming to achieve 18 percent growth in tax collection. Raging inflation, which has prompted the Reserve Bank of India to raise its lending rate 10 times since March 2010, is crimping economic activity and is likely to hurt corporate advance tax collection, Mitra added.

Finance secretary also said that there was worry within the government over the rise in commodity prices and the slowdown reflected in the Index of Industrial Production (IIP), IIP for month of April was 6.3 percent; the lowest in last three month. This moderation in IIP was because of slowdown in investment, continues increase in policy rates by the central bank to reduce inflation. The slowdown in economic expansion reflects the adverse impact of high costs on net profit of companies.

Register Now to get our Free Newsletter & much more!
2026 ©The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me® is a registered trademark of The Alchemists Ark Pvt. Ltd.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×