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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
News Headlines »
 What is tax deducted at source (TDS)?
 Income Tax Return filing 2018: Here are some important tips for you
 Change in Examination Venue in Thane, Zone – II, May 2018 Examinations
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
 What to do if you missed the (second) tax deadline
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
 Income Tax department warns salaried class again filing wrong ITRs
 ITR-1 form for AY 18-19 now available for e-filing
 New Income Tax Return Form for Salaried Class available in Portal
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
 6 Tax changes you need to keep in mind while filing ITR for FY17-18 Income Tax Return efiling

OMCs pay advance tax, as crude prices dip
September, 29th 2006
The small increase in the prices of petroleum products in June, coupled with the softening of the global crude prices seems to have had a salutary impact on the bottomlines of oil marketing companies. IOC and BPCL, which had not paid any advance tax in the first two quarters of last fiscal due to notional losses they suffered from high crude prices, paid Rs 200 crore and Rs 100 crore respectively till September 15 this fiscal. While most leading corporates paid higher amounts as advance tax so far this fiscal compared with what they paid a year ago riding on the buoyant economy, Infosys and LIC paid less. NTPC paid 30% more this fiscal at Rs 450 crore, SBI 55% at Rs 860 crore, ICICI 80% at Rs 450 crore, SAIL 38% at Rs 750 crore. ONGC, the largest taxpayer, paid 1% more at Rs 2,050 crore. Infosys paid just Rs 25 crore compared with Rs 50 crore last year. Wipro, paid Rs 50 crore till mid-September, the time of second instalment, this year, as against Rs 35 crore in the corresponding period last year. Reliance Industries paid Rs 750 crore as advance tax this fiscal compared worth Rs 280 crore a year ago, Telco Rs 75 crore (Rs 50 crore) and Bharti Rs 100 crore (Rs 50 crore). Sources said total advance tax collection from corporates stood at Rs 35,500 crore till September 25 this year, up 29% over Rs 27,500 crore a year ago. Total direct tax collections stood at over Rs 80,000 crore in the period, more than third of the budget target of Rs 2.1 lakh crore. As of now, the government is confident of surpassing the budget target and even making up for the last years shortfall of over Rs 11,000 crore. Securities transaction tax collection reached Rs 2,200 crore already and is expected to touch Rs 4,000 crore this fiscal.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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