Direct tax receipts may be aspoiler for fiscal maths Growth in advance tax collections slowed to 11 per cent in the first half of the financial year, against 14 per centayear ago, posing a challenge to the government´s tax collection target for the year. This may, in turn, disturb the fiscal maths in these difficult times when the economy is in need of additional expenditure. Fiscal consolidation is facing challenges from the non-tax revenue side due to lower than expected receipts from spectrum. Besides, the income declaration scheme is likely to yield only Rs 7,000- 8,000 crore in its third instalment, due by September 30, against Rs 15,000 crore in the first two. Up to 50 per cent of the taxes and penalties were to be paid in the third instalment, but assessees paid more in the first two instalments. Within advance taxes, growth in corporation tax collections also fell, reflecting that India Inc is yet to come out of the woods. Pulled down by the slowing economy, goods and servi