GMC chief Kirthi Chekuri said on Sunday that the tax collection was almost double the amount collected last year and that the civic body recorded 99.80% growth.
Going forward, the government may also look at stricter tax deduction norms for e-commerce and online service providers, besides online gaming.
Of the total advance taxes collected till 17 December 2022, corporate taxes accounted for R 3,97,364 crore, while personal taxes accounted for R1,23,936 crore.
The Budget estimated direct tax collection at Rs 14.20 lakh crore this fiscal, higher than Rs 14.10 lakh crore collected last fiscal (2021-22).
The tax department on October 9 said that the gross collection of tax on corporate and individual earnings jumped nearly 24 per cent so far in the current fiscal year to Rs 8.98 lakh crore.
Personal income taxes saw 32.3% increase in gross terms and 16.25% increase in net revenue collection.
The net direct tax collection (after refunds) for 2022-23 registered a 23% jump to R7 lakh crore as on 17 September 2022.
The revenues for the month of August 2022 are 28 per cent higher than the GST revenues of Rs 1,12,020 crore collected in August 2021.
Meanwhile, the income tax department on Monday said that more than 3 crore income tax returns ( ITRs) for Assessment year 2022-23 were filed on e-Filing portal till 25th July, 2022.
Mayor Rayana Bhagya Lakshmi said, "Steps will be taken to replicate various projects being implemented by other civic bodies for holistic development of our city,”
Direct taxes, which comprise income tax paid by individuals and corporate tax, came in at Rs 14.10 lakh crore Rs 3.02 lakh crore higher than the budget estimate.
Fund outlay for focusing on ward-wise development, under specific categories
To mop up tax revenue, the CCMC is operating collection centres in 21 places across the city from 9 in the morning to 5 in the evening.
In reality, tax collections, barring disinvestment proceeds, are going gangbusters.
Net direct tax collection grew to Rs 1.42 lakh crore at the end of the first quarter due to a surge in advance tax payments.
Finance Minister E Rajender held a review meeting with officials at Secretariat on Thursday on GST implementation in TS.