E-Paper
Top 90 pay Rs 2,477 cr more in advance tax
The Income-Tax department has collected an additional Rs 2,477-crore from the 90 top advance tax-payers in the third quarter of 2009-10, as compared to a year ago.
The Income-Tax department has collected an additional Rs 2,477-crore from the 90 top advance tax-payers in the third quarter of 2009-10, as compared to a year ago.
The total Q3 advance tax paid by these 90 companies is Rs 12,881-crore (Rs 10,404-crore last year), with 61 of them paying more this year as compared to the same period last year.
Significantly, 34 of these companies shelled out 100 per cent or more in advance tax during this quarter, an Income Tax source said.
The 90 companies have together contributed Rs 33,358-crore to the advance tax kitty for the three-quarters so far this fiscal as against Rs 27,197-crore in the same period last fiscal.
Of these, 68 paid a higher total advance tax payment till Q3 FY 10 while 22 shelled out a lesser amount.
The exchequer has gained an additional Rs 6,161-crore from these 90 companies in the three-quarters so far, the source said.
However, 23 companies including major banks among the top 90 companies, shelled out less than what they had paid in the same period last year.
Among the lower tax-payers, contributions of seven saw a decline of more than 50 per cent compared to their year-ago pay-out. These include ICICI Bank, HSBC, JP Morgan, and Barclays Bank.
