1. Pharma companies were the outlier in the otherwise depressing advance tax numbers. As expected, Real Estate, Infra, Steel, and Cement were the worst of lot. FMCG and Banks stood steady so far in the first qtr. numbers.

2. Overall, advance tax collection is down by 35% in the June Qtr. (YOY).
3. Securities Transaction Tax actually rose 13% in the quarter. Thanks to rise in share market volumes during the first quarter of FY 20-21.
4. 35% dip in tax collection can be an aberration due to extreme lockdown measures imposed by the government. The tax officials estimate that the economic activity is fast ramping up and the tax collection from next quarter would be better than June.

Happy Investing !