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% :: ACCOUNTING STANDARD :: cpt :: empanelment :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: list of goods taxed at 4% :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company
 
 
« News Headlines »
 Looking for last-minute tax planning with Section 80C investments? Here's help
 Aadhaar mandatory for filing income tax return
 Will Aadhaar linkage solve India's income tax woes?
 GST roll out from July 1 will make goods cheaper: Jaitley
 Aadhaar To Be Mandatory For Filing Income Tax Return, PAN Application
 7 best tax-saving solutions which can help you save money
  No proposal to replace Income Tax with Banking Cash Transaction Tax
 How to Make Tax Saving Investments Less Taxing with an SIP in ELSS
 NRIs having only investment income may not file tax returns
 With income tax returns filing deadline near, here are 3 major things to do before March 31
 When public becomes tax gatherer

Corporate payments swell tax basket
June, 18th 2007

Indicating a continuing buoyancy in the Indian economy, corporate tax collections have seen a significant growth for the three months ended June 15. State Bank of India (SBI), among the top 10 advance tax payers for over a decade, paid Rs 503 crore for three months ended June 15.

This was 40% higher than Rs 356 crore it paid during the corresponding period last year. The rise in revenue is attributed to the banks ability to transfer the high interest cost to its borrowers.

Advance taxes are paid in four instalments in a year. They are paid in June, September, December and March. Though not a precise, the first instalment is considered 15% of the total advance tax to be paid in a year. Reliance Industries (RIL) paid Rs 290 crore, registering a 38% increase.

Last year, the company had paid Rs 210 crore. RIL, which was a zero-tax company for a long time thanks to its diligent tax planning methods that included investing in infrastructure projects, started figuring in the list of 10 top tax payers from last year.

Since all its infrastructure projects have been completed, the tax outgo too has jumped. Bajaj Auto has registered a decline in payment. The tax outgo stood at Rs 60 crore, compared to Rs 72 crore it paid a year ago, recording a 16% decline. Analysts say that the auto sector is under pressure from rising interest costs and that have affected the sales.

ICICI has paid advance tax of Rs 250 crore, marking a 25 % increase over the corresponding period last year when it paid Rs 200 crore. Hindustan Levers tax outgo registered an increase of 19%, from Rs 42 crore last year to Rs 50 crore. HLL, which used to be on top of the charts earlier, has been lagging for the last three years. While Videocon paid Rs 5 crore same as last year, Century Textiles paid Rs 23 crore against Rs 24 crore last year.

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

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