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% :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: TDS :: VAT RATES :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: form 3cd :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ACCOUNTING STANDARD
« 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

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 2016 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