Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: VAT Audit :: list of goods taxed at 4% :: due date for vat payment :: form 3cd :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: TDS
 
 
News Headlines »
 How to respond to a tax notice under section 143
 Income-tax (22nd Amendment) Rules, 2017
 All about Exports under GST
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states

Firms put up poor show in advance tax payment
March, 17th 2009

Indian companies could not match up to banks in the payment of advance tax in the fourth quarter of 2008-09.

A slowdown in the economy, a hard-hit exports sector and lack of funds affected payments. However, banks recorded a growth in earnings despite challenging market conditions.

The State Bank of India was the highest advance tax payer in the quarter with a total payment of Rs 1,810 crore.

Other leading tax payers among banks were the Bank of Baroda (Rs 280 crore), HDFC Bank (Rs 275 crore), Dena Bank (Rs 75 crore) and IndusInd Bank (Rs 26 crore), data with the income tax department shows.

In the fourth quarter, Indian Oil Corporations (IOC) advance tax payments stood at Rs 150 crore, Reliance Industries at Rs 370 crore and engineering and construction major Larsen and Toubros at Rs 245 crore.

LICs home loan subsidiary, LIC Housing Finance Ltd, paid Rs 245 crore.

Advance tax collected from Mumbai, which accounts for 35-40 per cent of the countrywide tax collection, is nearly Rs 99,000 crore till March 15, according to the data.

Companies are required to pay their advance taxes four times a year, based on their quarterly earnings.

Companies pay 15 per cent of their advance tax estimates by June 15, another 30 per cent by September 15, followed by another 30 per cent by December 15 and the balance by March 15.

The direct tax mop-up has also declined more than 18 per cent to Rs 11,506 crore in February over the year-ago period.

Direct tax collections in February 2008 stood at Rs 14,138 crore.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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