picture on the revenue side given that customs will be impacted due to imports and advance tax collections have been lowerthe collection of income tax in the first quarter in this financial year is not as lower as it was initially made out in certain section of media we need to look at the whole picture in the first quarter the revenue from income tax and corporation tax are 77 of the last year level on a gross basis which includes advance tax and tds while we compare the tax collection with that of the last year we also need to consider that the corporate tax rate was higher at the rate of around 35 when the first installment of advance tax was paid last year and it came down subsequently to about 25 plus in this quarter we had covid situation and lockdowns in most parts of the country which also impacted the profitability of the companies yet in such adverse circumstances we ended up collecting 77 of last year level on gross basis