More private sector cos enter top advance tax payers list
October, 05th 2007
More private sector companies have entered into the top ten advance tax payers league going by the official data available up to end-September this fiscal.
Three companies TISCO, Reliance Industries and ICICI Bank form part of the list of top ten advance tax payers so far this fiscal. In fiscal 2006-07, TISCO was the only private sector company that found a place in the list of top ten advance tax payers.
ONGC continued to hold the top position, with advance tax payment up to September 2007 at Rs 3,411 crore (Rs 3,090 crore up to September 2006). The countrys largest commercial bank, State Bank of India has emerged second in the list at Rs 1,557 crore (Rs 1,219 crore up to September 2006).
While Life Insurance Corporation (LIC) has up to September this fiscal forked out advance tax of Rs 1,086.68 crore (Rs 914 crore up to September 2006), Steel Authority of India (SAIL) has paid Rs 1,040 crore (Rs 1,350 crore).
Reliance Industries has paid advance tax of Rs 944 crore up to September 2007 as against Rs 658 crore for the same period last year. While NTPC has paid advance tax of Rs 728 crore (Rs 629 crore), ICICI Bank has for the period under review paid advance tax of Rs 700 crore (Rs 650 crore).
Data compiled by the Revenue Department shows that TISCO has paid advance tax of Rs 665 crore for the period up to September 2007 as against Rs 630 crore in the corresponding period last year. Indian Oil Corporation made it to the top ten list with advance tax payment of Rs 686.59 crore (Rs 211.57 crore up to September 2006). Bharat Heavy Electricals Ltd has forked out advance tax of Rs 680 crore (Rs 510 crore).