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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: list of goods taxed at 4% :: empanelment :: articles on VAT and GST in India :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: VAT RATES :: Central Excise rule to resale the machines to a new company :: form 3cd
 
 
« News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

BFSI firms make higher advance tax
June, 15th 2013

The banking, financial services and insurance (BFSI) sector, led by the Life Insurance Corporation of India, has reported a healthy rise in advance tax outgo in the first quarter of the current fiscal, according to Income Tax Department sources here on Friday.

The advance tax outgo of LIC went up to Rs.679 crore from Rs.638 crore in the year ago period, while that of ICICI Bank moved up to Rs.600 crore from Rs.500 crore, sources said.

Deposit Insurance and Credit Guarantee Corporation paid Rs.611 crore (Rs.440 crore).

State Bank of India and Reliance Industries are yet to pay the first instalment of the annual tax outgo, sources said, pointing out that Saturday is the last day for the payment.

Advance tax payment is generally considered as a barometer of a company’s performance. Corporates pay about 15-18 per cent of their tax liability in the June quarter.

When asked for the overall picture, a senior official said that it was difficult to analyse the trend as payments of many corporates were yet to come. “Overall, they seem to be okay,” he said.

HDFC Bank paid Rs.685 crore as compared to Rs.500 crore in the year ago period, while its parent, HDFC, paid Rs.360 crore (Rs.300 crore).

Bank of Baroda paid Rs.325 crore (Rs.315 crore), while Central Bank of India’s outgo jumped to Rs.167 crore (Rs.140 crore).

Auto major Bajaj Auto, has led the pack with a payment of Rs.160 crore (Rs.150 crore). Mahindra and Mahindra paid Rs.120 crore (Rs.90 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 - Contact 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