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: articles on VAT and GST in India :: list of goods taxed at 4% :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARD :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: cpt :: due date for vat payment :: VAT Audit :: empanelment :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 All about income tax return form Sahaj
 Why seeing Form 26AS is a must before filing tax return and how to access it
 No tax on notice period pay cut
 Interpretation Of Central Goods And Services Tax (Cgst) Act (Part-1)
 What to do if you haven’t filed your taxes
 Income Tax Declaration To Employer: 10 Changes You Should Be Aware Of
 What your income tax says about you
 Self e-filing of income tax returns
 Why do we get 3 extra days to file income tax returns in 2017?
 Income Tax department launches 'Operation Clean Money'-II
 Here’s how to e-file your income tax return

Advance tax from financial firms up 72%
March, 21st 2008
A slowdown in credit growth and possible losses on account of forex derivative exposure does not seem to reflect in the fourth quarter 2007-08 advance tax payment by leading financial firms, including the State Bank of India and ICICI Bank.
 
A closer look at the provisional top 100 advance tax paying firms reveals that as many as 38 financial companies contributed Rs 7,433 crore to the total advance tax of Rs 19,346 crore paid by these firms.
 
In other words, advance tax paid by the leading financial companies in the fourth quarter of 2007-08 rose by a whopping 72 per cent, compared with Rs 4,299 crore they paid in the same quarter in 2006-07.
 
In effect, the profitability of most financial sector firms seems to be intact.
 
In contrast, the telecom services sector has not fared well. Companies like Bharti Airtel, BSNL and MTNL saw a decline of 35 per cent, 100 per cent and 88 per cent respectively in their advance tax payments in the quarter under review.
 
Some energy sector firms like ONGC, auto firms like Tata Motors and metal companies like Hindalco have also paid lower advance tax.
 
Overall growth in advance tax payments stands at around 34 per cent in the fourth quarter, similar to the trend witnessed in the comparable period during the previous fiscal. This reaffirms the buoyancy in direct tax collections, which are expected to grow at over 40 per cent in 2007-08.
 
The advance tax payment has touched Rs 40,000 crore in the fourth quarter and another Rs 10,000 crore is likely to be added once the data is fully compiled.
 
Among other sectors, software, engineering and mining firms have reported higher advance tax payment.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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