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: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT RATES :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: TDS
 
 
News Headlines »
 Who can file tax returns under presumptive taxation scheme
 Income tax dept notifies amendments for sharing taxpayer information
 Seven things you must do before 31st March
 Income Tax saving investments: Top 5 options available for high-income individuals
 How to use zero tax rule on long term capital gains on stocks
 GST Returns - Furnishing details of inward supplies
 5 ways to maximise you income tax return
 Income-tax (2nd Amendment) Rules, 2017
 Soon, Faster PAN, An App For Filing Tax Returns
 Changes in income tax return filing process
 New Income Tax Rates And Deductions Applicable From April 1, 2017

Large companies increase advance tax payments for Q4
March, 19th 2015

Most of the large companies have increased their advance tax payments for the fourth quarter by double digits compared to last year in perhaps the first set of good news for the Narendra Modi government. State Bank of India (SBI) leads the list with Rs 1,720 crore advance tax payment this quarter, 19% more than the year-ago period, followed by Reliance Industries that increased its advance tax payment by 17% at Rs 1,594 crore, official sources said.

Industry trackers say higher advance tax payments indicate that most of the large corporates would see their tax liability increase due to a rise in their profits this fiscal. The income-tax department has stopped disclosing advance tax figures for the past one year after some opposition from certain individual taxpayers over the same.

By the second quarter, many companies pay around 30%-40% of their tax liability and the rest at the end. In the current financial year the advance tax has jumped compared to last year on improved macro-economic environment.

Hindustan Unilever and Life Insurance Corporation of India saw the biggest jump in advance tax payments in percentage terms with increases of 72% and 38%, respectively. Top financial institutions including HDFC Ltd, HDFC Bank, ICICI Bank and Axis Bank, too, saw a jump in their advance tax payments. Some big companies, however, saw a decline in their advance tax payments. Passenger vehicle maker Mahindra & Mahindra saw a 36% fall in its advance tax payment for the fourth quarter at Rs 115 crore while Larsen & Toubro paid 41% less than last year at Rs 170 crore.

The income-tax department is set to collect a total around Rs 7,36,000 crore by the end of March. Of this, around Rs 2,30,000 crore will be through advance tax collections, sources said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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