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13 in Gujarat pay over 1 crore each as advance tax
May, 19th 2014

As many as 13 people in the state - including industrialists, builders, jewellers and cricketers - have paid Rs 1 crore or more each, as advance tax this year. Navnit Mulchand Shah, who owns a 100% export-oriented pharmaceutical unit in Ahmedabad, has emerged as the top tax payer with Rs 10.5 crore advance tax, followed by Rajkot-based jeweler, Ashokumar Zinzuwadia who has paid advance tax worth Rs 5.5 crore.

Cricketers Ravindra Jadeja and Irfan Pathan are also among the top tax payers with taxes worth Rs 2 crore and Rs 1 crore respectively. Among corporate houses, Axis Bank, GMDC, Adani SEZ, Torrent Pharma and Gujarat Gas were the highest tax payers for the same period.

This year, the income tax (I-T) department fell short of the advance tax collection target by Rs 4,200 crore. According to figures, the I-T department collected Rs 27,400 crore against the target of Rs 31,900 crore. Last year against the target of Rs 26,000 crore, the department had reported a collection of Rs 25,800 crore.

The top taxpayers' list comprises people from all types of areas - from pharmaceuticals to sports. Manoj Mansukhani who runs a shipping company in Kandla, and Udaykumar Chhabildas Patel of a city-based manufacturing Industry, paid advance tax worth Rs 4.2 crore each.

"Every year, the advance tax target is increased by 30% and with slowdown affecting industries, collections have fallen," said an I-T official. For 80% of the taxes, the I-T department is dependent on major corporate houses as well as on public sector companies.

Ahmedabad-based Nitin R Shah, who runs a pharmaceutical company, rounded off the top five payers with tax worth Rs 4 crore followed by Vadodara-based Seema Ajay Ranka, the proprietor of a manufacturing industry, who paid tax worth Rs 2.8 crore.

"Power and infrastructure sectors were the most affected by the economic slowdown which resulted in lower tax collections," said the I-T official.

Top Advance Tax Payers in Gujarat

Name Sector Advance tax (Rs in cr)

Navnit Mulchand Shah Pharma 10.50

Ashokkumar Zinzuwadia Jewellery 5.5

Manoj Mansukhani Shipping 4.2

Udaykumar Chhabildas Patel Manufacturing 4.2

Nitin Rasiklal Shah Pharma 4

Seema Ajay Ranka Manufacturing 2.8

Bharat Pathak Construction 2.7

Dharmesh Kamlesh Jungi Fisheries 2.4

Dinesh Ishvarlal Gawarvala Rubber 2.3

Kantilal Ishvarlal Patel Chemical 2.1

Ravindra Jadeja Sports 2

Saurabh Soparkar Law 1.37

Irfan Pathan Sports 1

Top companies

Company Advance tax filed (Rs in cr)

Axis bank 3200

GMDC 225

Adani Ports and SEZ 223

Torrent Pharma 188

Gujarat Gas 150

GSPC 12

 
 
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