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!
General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

At Rs 84 crore, MP sets pace with advance tax payment
October, 12th 2010

Though the persistent belligerence of Congress MP Jagan Mohan Reddy has often embarrassed the Congress high command since his father and former Andhra Pradesh chief minister Y S R Reddy's death last year, not much is known about his personal wealth.

His individual advance tax collection showcases more than what meets the eye. In the first six months of the current financial year, he has already paid Rs 84 crore as advance tax, anticipating his annual income to be in the vicinity of Rs 500 crore or much more.

His earnings can put to shame corporate biggies like the Tatas, Birlas or Ambanis.

It is a significant jump, considering Jagan Mohan had paid a paltry Rs 2.92 lakh tax for the financial year 2008-09, and Rs 6.72 crore for 2009-10. His growth in the half-yearly tax outgo has been more than 1,100% as compared to what he had paid for the same period in 2009. Individuals pay advance income tax twice a year.

The names of mining czars figure prominently among other significant contributors to the exchequer. Karnataka tourism minister Janardan Reddy's wife Gali Lakshmi Aruna, Kamaljeet Singh Ahluwalia, who has varied interests in Rourkela and Barbil belt in Orissa, and Ramamurthy Praveen Chandra are among the top taxpayers. They have all contributed between Rs 7 crore and Rs 20 crore individually till September.

Telecom official-turned-entrepreneur Asim Ghosh, who has paid Rs 20.78 crore, is close Ramamurthy (Rs 20 crore) during the same period. Thoughh Ahluwalia has also paid Rs 20 crore, his tax outgo for the six months shows a growth of 67% as compared to Ramamurthy (100%) and Ghosh(518%), who had paid Rs 3.36 for the same period last year. His annual contribution in 2009-10 was Rs 74 crore.

Others with mining interests have made hefty contributions as well. Indrani Patnaik has paid Rs 15 crore till September. Prashant Ahluwalia, brother of Kamaljeet, has paid Rs 10 crore; Radha Satish Timblo (Rs 9 crore); Anand Kumar (Rs 7.5 crore) and Kumarmanglam Birla (Rs 5.8 crore).

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting