Countrys leading domestic and multi-national banks figured among the top ten advance tax paying corporates in Mumbai in 2006-07. Among the corporates, State Bank of India paid the highest advance tax of about Rs 2,775 crore, income-tax sources said.
Other banks were ICICI Bank (Rs 1,025 crore), Standard Chartered Bank (Rs 790 crore) and Hongkong and Shangahi Banking Corproation (HSBC) India (Rs 704 crore). Life Insurance Corporation emerged as the second highest advance tax payer at around Rs 2,030 crore. Tata Steel was the third largest advance tax payer at Rs 1,760 crore and Deposit Insurance and Trade Guarantee Corporation was fourth at Rs 1,243 crore.