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: ACCOUNTING STANDARDS :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: empanelment :: TDS :: ACCOUNTING STANDARD :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: articles on VAT and GST in India
 
 
News Headlines »
 Filing of online return for 4th quarter of 2016-17 — extension of period thereof
 CBDT simplifies ITR filing process from FY18
 Govt extends service tax return filing date to April 30
 No move to tax farm income, clarifies Arun Jaitley
 New board for indirect taxes to become operational from June 1
  9 changes that came into effect from April 1
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
 Income Tax Filing 2017: All you want to know about the single page ITR form SAHAJ
 How to benefit from investments in tax saving mutual funds
 60 per cent of income tax notices on fishy cash deposits returned

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