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Energy cos among top 25 tax payers
December, 23rd 2006

Energy and banking sectorcompanies have emerged as the highest advance tax payingcorporates in the country, owing to the surge in business andpersonal lending coupled with rising energy consumption, according to sources in the finance ministry.

Among top 25 corporate taxpayers, the public sector companies in the energy sector _ ONGC, NTPC, GAIL and BPCL _ have deposited Rs 7,382 crore advanced taxes by December asagainst Rs 6,248 crore during the corresponding period last fiscal.
 
By paying Rs 5,192 crore as advance tax by December, as against Rs 4,818 crore, ONGC has emerged the highest corporate taxpayer followed by steel major SAIL (Rs 2,351 crore).

Out of the 25 top corporate tax paying companies, 10 are from the banking and insurance sector, which include major public sector private sector banks.

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