Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4% :: VAT RATES :: articles on VAT and GST in India :: TDS
 
 
General »
 Don’t rush into a new tax without being prepared
 Can’t tax income from palace rent: Supreme Court
  Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of ₹ 500/- and ₹ 1000/- (Updated as on November 30, 2016)
 Cases for tax scrutiny will be selected by machines
 Time to revisit 1997 direct tax rates, says P Chidambaram
 Lok Sabha passes Bill to tax black money deposits post demonetisation
 Last day to pay property tax with old notes
 Income tax department asks IDS declarants to pay tax by 30 November
 Why PM Narendra Modi must beware of the breathtaking Arthakranti tax
 Japanese firms seek easing of restrictions on funding in India
 Tax on black money: How the cookie will crumble

At Rs 84 crore, MP sets pace with advance tax payment
October, 12th 2010

Though the persistent belligerence of Congress MP Jagan Mohan Reddy has often embarrassed the Congress high command since his father and former Andhra Pradesh chief minister Y S R Reddy's death last year, not much is known about his personal wealth.

His individual advance tax collection showcases more than what meets the eye. In the first six months of the current financial year, he has already paid Rs 84 crore as advance tax, anticipating his annual income to be in the vicinity of Rs 500 crore or much more.

His earnings can put to shame corporate biggies like the Tatas, Birlas or Ambanis.

It is a significant jump, considering Jagan Mohan had paid a paltry Rs 2.92 lakh tax for the financial year 2008-09, and Rs 6.72 crore for 2009-10. His growth in the half-yearly tax outgo has been more than 1,100% as compared to what he had paid for the same period in 2009. Individuals pay advance income tax twice a year.

The names of mining czars figure prominently among other significant contributors to the exchequer. Karnataka tourism minister Janardan Reddy's wife Gali Lakshmi Aruna, Kamaljeet Singh Ahluwalia, who has varied interests in Rourkela and Barbil belt in Orissa, and Ramamurthy Praveen Chandra are among the top taxpayers. They have all contributed between Rs 7 crore and Rs 20 crore individually till September.

Telecom official-turned-entrepreneur Asim Ghosh, who has paid Rs 20.78 crore, is close Ramamurthy (Rs 20 crore) during the same period. Thoughh Ahluwalia has also paid Rs 20 crore, his tax outgo for the six months shows a growth of 67% as compared to Ramamurthy (100%) and Ghosh(518%), who had paid Rs 3.36 for the same period last year. His annual contribution in 2009-10 was Rs 74 crore.

Others with mining interests have made hefty contributions as well. Indrani Patnaik has paid Rs 15 crore till September. Prashant Ahluwalia, brother of Kamaljeet, has paid Rs 10 crore; Radha Satish Timblo (Rs 9 crore); Anand Kumar (Rs 7.5 crore) and Kumarmanglam Birla (Rs 5.8 crore).

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions