Advance Tax payments from Top 100 corporate India firms for July-Sept quarter!

The incidence of Advance Tax numbers from the top 100 corporate India firms has surged by 9.9% during the July-September quarter.

While big players like Bharti Airtel, Maruti Suzuki, SBI and SAIL have felt the pinch of slowdown as reflected in their lower tax pay-outs during the period, both the top oil companies – RIL and ONGC – have paid higher advance tax numbers for the second quarter of this fiscal.

BL18_tax_eps_785402f

However, Oil Marketing Companies registered dismal advance tax payments on being hit by rising prices of crude in the international market. While IOC went off without any tax payment at all, state-owned BPCL accounted only for Rs.35 crore of advance tax payment during the period.

While state-run power generation company NTPC’s remittances came in at Rs.721 crore, up 42% from last year’s Rs.506 crore; power equipment manufacturer BHEL chipped in with 16% surge in its tax payments at Rs.858 crore for the said quarter.

Amongst losers, Bharti Airtel’s payout dropped by 21% at Rs.252 crore for the September as against Rs.320 crore in the same period last year. SBI paid advance tax of Rs.1650 crore, reflecting a drop of 14% from the previous fiscal levels.

[Image Source]

(Visited 254 time, 1 visit today)

Leave a reply