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: ACCOUNTING STANDARD :: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: TDS :: VAT RATES :: cpt
« News Headlines »
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17

Sterlite top taxpayer at Rs 1,117 crore
December, 09th 2006

Sterlite Industries has emerged as the countrys highest tax payer in the private sector with a payment of Rs 1,117 crore in the first six months of the current financial year. 
The consolidated financial numbers of Sterlite Industries showed that the companys current tax payment in the first half of FY 2006-07 was ahead of Tata Steel (Rs 1,012 crore) and Reliance Industries (Rs 733 crore). 
However, the Vendanta-group company stood third in the table of all tax paying companies, during the period, after public sector giants ONGC (Rs 4,517 crore) and NTPC (Rs 1,417 crore).  

The others in the top 10 list include Nalco (Rs 644 crore), ITC (Rs 593 crore), Indian Oil (Rs 570 crore), Grasim Industries (Rs 463 crore) and Hindalco (Rs 450 crore). 
In 2005-06, Sterlite was at the seventh position with payment of Rs 804 crore. The top six were ONGC (Rs 7,123 crore), Indian Oil (Rs 2,144 crore), Tata Steel (Rs 1,649 crore), Reliance Industries (Rs 931 crore), Nalco (Rs 845 crore) and NTPC (Rs 817 crore) 
Industry experts attributed the huge tax payment by Sterlite to the companys improved performance in the first half of 2006-07. The companys consolidated turnover stood at Rs 11,321 crore in the first six months of the current year against Rs 13,127 crore in 2005-06. 
The companys performance has been rising over the past few quarters owing to soaring prices of aluminium, zinc and copper. 
The mining company plans to raise $2 billion from the US investors to fund its proposed foray into the power sector. It has filed the prospectus with the Securities & Exchange Commission fortnight ago. 
In the filing it has said its recent levels of profitability and operating margins were owing to ascension of international copper, zinc and aluminium commodity prices. It also cautioned that its earnings could shrink if the prices slip. 
The initial listing price of ADS could not be less that Rs 531.84, as per Sebi guidelines. The stock today closed at Rs 570.85 on the BSE.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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