Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)
 Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning
 What Are 5 Heads Of Income Tax?
 Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals
  Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Income Tax Return: 5 lesser-known tax-saving tips from Section 80
 Why you need not rush to file your ITR immediately
 Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing
 Section 80DDB tax benefits for specified illnesses: 5 things to know
 Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes
 ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal

India Sept qtr advance tax seen up 25 pct y/y
September, 20th 2008

India is expecting 25 percent growth in advance tax collections at about 362.5 billion rupees in the September quarter, an official at the Central Board of Direct Taxes told Reuters on Friday.

By September 15, companies such as Oil and Natural Gas Corp. (ONGC.BO: Quote, Profile, Research), State Bank of India (SBI.BO: Quote, Profile, Research), Steel Authority of India Ltd (SAIL.BO: Quote, Profile, Research) and Tata Steel (TISC.BO: Quote, Profile, Research) paid more than 10 billion rupees in taxes for the second quarter, the official said.

Other firms who figured among the top 10 taxpayers included Life Insurance Corp, NMDC (NMDC.BO: Quote, Profile, Research), Reliance Industries (RELI.BO: Quote, Profile, Research), Bharat Heavy Electricals Ltd (BHEL.BO: Quote, Profile, Research) and GAIL (GAIL.BO: Quote, Profile, Research).

"We are expecting at least 25 percent growth in advance tax collection in the second quarter," the CBDT official said.

Last year, the government collected about 290 billion rupees in advance taxes in the September quarter, he said.

The final figures for this year's second quarter advance tax receipts are yet to be collated by the Finance Ministry as it takes time for banks from smaller cities to send the data, the official added.

Advance tax receipts, which reflect corporate profit growth, were up 24.1 percent at 213.68 billion rupees in the June quarter, slower than that a year earlier, as oil companies suffered revenue losses and paid less tax.

 

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting