« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  Auditors wary of appointment leeway... Apex court nod to new perquisites tax computation... » Advance tax collection to be higher in Q2 September, 19th 2006 Advance tax collection in the second quarter of the current financial year is likely to be robust though a definite trend is yet to emerge. According to the indicative figures available, Reliance Industries has paid around Rs 425 crore for the quarter ended September 30 as against Rs 225 crore for the corresponding quarter in the previous year. State Bank of India is understood to have paid around Rs 800 crore (Rs 138 crore last year). However, it is comparable to around Rs 756 crore paid in the first quarter. While ICICI Bank paid Rs 450 crore (Rs 152 crore last year), Bank of Baroda paid Rs 150 crore (Rs 110 crore). Among other companies, Associated Cements paid around Rs 125 crore (Rs 53 crore) and Indian Oil coughed up Rs 211 crore compared with Rs 260 crore last year. Even as official figures are yet to be released, Gujarat Ambuja and Mahindra and Mahindra are expected to be among the top tax payers . However, collections from Tata Steel are not likely to be high. The advance tax collection by the Mumbai Income-Tax Department for the April-June 2006-07 quarter had indicated a marginal improvement in the performance of the Indian corporate sector over last year. While State Bank of India was one of the lead players by paying Rs 356 crore as against Rs 280 crore in the year-ago period, Tata Steel paid around Rs 265 crore. The department usually garners net advance taxes of around Rs 10,000- 12,000 crore. However, in the last quarter the figure was lower at around Rs 7,000-8,000 crore. The overall collection for the second quarter is slated to be around Rs 20,000-25,000 crore.