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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
« News Headlines »
 Here's how taxpayers can revise their ITR filing
 16 LPA-Opening Urgent Opening with BIG 4 Client for Statutory Audit
  When and how to revise tax returns
 How and why to check income tax return (ITR) status
 10 things you need to know about filing your Income Tax Returns
 Here’s what you should know Are you liable to pay advance tax?
 How new property tax law will affect you
 Zero income tax for women
 What to do if you missed income tax return deadline
 Haven’t filed your ITR yet? Now use updated forms to file tax return Income Tax efiling
 File your ITR without Form 16; here is how Income tax returns filing

Only 2 private firms in top ten advance tax payer list
March, 29th 2008

Private sector presence in the top ten advance taxpayers league has dwindled, going by the latest data compiled for 2007-08 by the revenue department.

ICICI Bank, which had a presence in the top ten league up to December 15 instalment along with Tata Steel and Reliance Industries, does not find a place in the final list for the period up to March 15.

Public sector dominance in the top 10 list not only continues, but has been strengthened with National Mineral Development Corporation Ltd (NMDC) moving into the league.

Corporates are required to pay 90 per cent of their estimated tax liability in a financial year as advance tax to the income tax department by March 15.

Reliance Industries and Tata Steel are the only private sector companies to figure in the list for 2007-08. In fiscal 2006-07, Tata Steel was the only private sector company to find a place in such a listing.

Pay slab

Up to March 15, which is the due date for the fourth and final instalment of advance tax payment, the top 10 advance taxpayers have cumulatively paid Rs 31,217 crore, which represents a 29 per cent increase over Rs 24,179 crore paid by them in the same period during 2006-07.

ONGC continued to hold the top position in the group, with advance tax payments up to March 15 this fiscal at Rs 8,305 crore, 3.9 per cent higher than the Rs 7,992 crore paid in the same period last year. However, ONGCs advance tax payment for the March 15 instalment was 25.3 per cent lower at Rs 2,092 crore as compared to Rs 2,800 crore in the same instalment last year.

State Bank of India, which held the second position in the top ten league, has paid advance tax of Rs 4,063 crore in 2007-08, 46.5 per cent higher than the Rs 2,774 crore paid in 2006-07. For the March 15 instalment this fiscal, SBI paid Rs 1,418 crore (Rs 690 crore).

While SAIL has paid advance tax of Rs 3,709 crore (Rs 3,256 crore), Indian Oil Corporation (IOC) paid Rs 3,069.3 crore (Rs 855.8 crore). For the March 15 instalment, IOC paid advance tax of Rs 1,139.9 crore (Rs 589 crore).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

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