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New Delhi closes in on Mumbai in income tax collections: report

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Delhi is slowly outpacing financial hub Mumbai when it comes to income tax collections.

New Delhi closes in on Mumbai in income tax collections: report
Delhi is slowly bridging its gap with financial hub Mumbai when it comes to income tax collections.
Income tax collections in New Delhi, the second largest contributor of tax,  jumped to 45 percent between April to November 13 this year compared to same period last year, The Times of India reported.
Mumbai still contributes the largest, 29 percent, of total income tax revenues, but its share has been falling.
Tax collection in Mumbai slowed down due to hefty refunds while the collection in New Delhi rose 16.5 percent due to massive growth in the region, the ToI report said, adding that other metros like Chennai and Kolkata only reported single-digit growth in tax collection.
 
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