There are major corporations that contribute far larger amounts to the government through corporate taxation, often without much public attention.
As per the Hurun India 2024 report and advance tax filing data for the financial year 2023–24, Reliance Industries ranked first among corporate taxpayers.
India’s Leading Corporate Tax Contributors: Reliance Industries Tops the 2024 List
The company paid an enormous Rs 25,707 crore in corporate tax in 2024.
Reliance Industries is also the most valuable company in India in terms of market capitalisation.
Under the leadership of Mukesh Ambani, the company operates across diverse industries such as oil and gas, petrochemicals, retail, and telecommunications.
Its broad and diversified operations generate high profits, which translate into substantial tax contributions to the government.
Following Reliance Industries, Tata Consultancy Services holds the second position among top corporate taxpayers.
The Tata Group’s leading IT firm paid Rs 15,898 crore in corporate tax.
Tata Consultancy Services remains one of India’s largest exporters of IT services and maintains consistent profitability with a strong global footprint.
Vedanta Limited secured third place by paying approximately Rs 12,826 crore in corporate taxes.
The company operates in industries such as mining, oil and gas, and metals, making it a significant source of government revenue.
Top Corporate Taxpayers in India: HDFC Bank, Infosys, ITC, Kotak Mahindra Bank, HCL Technologies, Larsen & Toubro and Bajaj Finance
Other prominent companies that feature among the top ten corporate taxpayers include HDFC Bank, Infosys, ITC Limited, Kotak Mahindra Bank, HCL Technologies, Larsen & Toubro, and Bajaj Finance.
These organisations operate across sectors such as banking, information technology, infrastructure, manufacturing, and financial services, and they make meaningful contributions to the national economy.
Corporate tax revenue forms a substantial portion of the government’s overall income.
The money collected from these taxes is allocated toward infrastructure projects, welfare initiatives, defence spending, healthcare systems, and educational development.
Although public focus often remains on individual taxpayers, large corporations account for a considerable share of direct tax collections.
The findings of the Hurun India 2024 report highlight that India’s largest companies are not only engines of economic expansion but also vital contributors to the country’s public finances through their tax payments.
