Advance tax collection in FY 2011-12 up by 27.5% for the country.

The income tax department had, till December 15, 2011, collected. (including taxes other than advance tax) in the state also increased by 27.5% to Rs14,821 crore for the period till December 15, 2011, compared to Rs11,627 crore last year for the same period. The all-India figure for advance tax collection stood at Rs1,72,995 crore as of December 15, 2011. Despite these encouraging figures, the total tax collected from the state has fallen short of the department's target of Rs23,363 crore. Gujarat has registered a 26.4% rise in overall advance tax collection. The income tax department had, till December 15, 2011, collected Rs7,542 crore by way of advance tax for the financial year 2011-12. Last year, the advance tax collected for the same period was Rs5,966 crore. Mumbai registered a mere 1% growth in advance tax collection while for Delhi and Bangalore it was 0.3% and 12.9%, respectively.

Few say its a indicator of Slow down of economy. But Few economist suggested that many companies didnt pay in the month of june and hences paid in mid dec.
Gujarat stands sixth among all other centres across India in total tax collection. Mumbai leads in tax collection with Rs1,01,000 crore being collected till December 15, 2011.