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: list of goods taxed at 4% :: VAT RATES :: Central Excise rule to resale the machines to a new company :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: empanelment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: due date for vat payment :: VAT Audit
 
 
« News Headlines »
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act

Advance tax: Top Ten payments growth slows
December, 24th 2008
The advance tax contribution of the top ten advance tax paying companies grew only 6.6 per cent up to the December 15 instalment on a year-on-year basis. This was in sharp contrast to the near 30 per cent year-on-year growth witnessed in contributions of the top ten advance taxpayers at the same time last year. However, the absolute advance tax payout of the top ten advance taxpayers were higher so far this fiscal at Rs 23,129 crore as against Rs 22,197 crore in the same period last year. The flagging growth rate in the contributions of the top ten advance taxpayers is suggestive of a slowdown in the economy, say economists and tax experts. This trend would be some cause for concern for the revenue department that is faced with somewhat daunting direct tax collection target of Rs 3,95,000 crore this fiscal. In fact, the mid-year review of the economy, tabled in Lok Sabha on Tuesday, noted that the industrial slowdown could have some impact on the revenue buoyancy in the current fiscal and that we may need to live with it. ONGC. State Bank of India and SAIL held the top three positions, according to data available with revenue department. This league comprised Tata Steel, Reliance Industries and ICICI Bank. Oil and Natural Gas Corporation continued to hold the top position in this group, with its advance tax payments up to December 15 this fiscal at Rs 5,468 crore. This was, however, lower than advance tax of Rs 6,273 crore paid by the navratna up to December 15, 2007. For the December 15 instalment in 2008, ONGC paid advance tax of Rs 1,723 crore (Rs 2,802 crore). The second highest in the league was State Bank of India, whose advance tax payout stood at Rs 3,923 crore (Rs 2,645 crore). For the December 15 instalment this year, SBI forked out Rs 1,700 crore (Rs 1,088 crore). SAILs advance tax payment for the December 15 instalment stood at Rs 751 crore (Rs 1,130 crore).
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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