Advance tax signals muted growth Cumulatively, tax collection from Mumbai zone grows just 11% Top 100 firms from Mumbai show moderate rise in tax outgo at 8 per cent signalling slow growth IN LINE with macro environment, the advance tax collections from the top100 corporates from the financial capital showed a muted growth for the September quarter, with the outgoes increasing by only up to 8 per cent, a senior official said on Monday. “For the top-100 companies, the advance tax payments have increased by 7-8 per cent,” the official said. Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said. Leading the pack in the financial capital was Mukesh Ambani-led Reliance Industries (RIL), which paid Rs 1,670 crore as against the Rs 1,534 crore in the same period year ago, the official said. Insurance giant Life Insurance Corporati