Advance tax collection in personal income tax has jumped almost double after completion of the third instalment. December 15 was the due date for the third instalment of advance tax. Improvement in advance tax shows economy on recovery.

According to government sources, after the third instalment, the total advance tax collection reached over 3.45 lakh crore as against ₹2.09-lakh crore of the previous fiscal. showing a growth of 65 per cent. Total Advance tax related to personal income tax jumped to around ₹95,000 crore as against around ₹48,000 crore showing a growth of around 98 per cent.