Companies pay higher advance tax in Q4
Leading companies have paid more advance tax in Q4 FY 11 indicating a healthy financial performance while its been a mixed bag from Indian banks.
By PTI |
Mumbai: Several leading corporates have paid more advance tax in Q4 FY 11 as compared to the year-ago, indicating their healthy financial performances.
Mukesh Ambani-led Reliance Industries as well as the Ratan Tata-led Tata Steel have both paid more advance tax this quarter at Rs 1,054-crore and Rs 987-crore, respectively, an Income Tax source told PTI here today.
In Q4 last fiscal (FY 10), Reliance Industries and Tata Steel had both paid Rs 770-crore and Rs 513-crore, respectively.
Two-wheeler major Bajaj Auto has paid Rs 250-crore in Q4 FY 11 as against Rs 175-crore in the year-ago period while Anand Mahindra-led M&M has shelled out Rs 307-crore as against Rs 226-crore in the year-ago period.
According to the source, Hindalco has paid Rs 160-crore in Q4 FY 11 as against Rs 110-crore in the year-ago period while MRPL paid Rs 296-crore as against Rs 180-crore in Q4 last fiscal.
Engineering and construction major, L&T, has also paid more advance tax in Q4 FY 11 at Rs 300-crore as against Rs 270-crore in the year-ago period.
Two biggies--FMCG major Hindustan Unilever Limited (HUL) and Tata group company, Tata Motors--have, however, paid less. While HUL paid Rs 150-crore this time as against Rs 170-crore in the year-ago period, Tata Motors has paid a meagre Rs 50-crore as advance tax in Q4 FY 11 as against Rs 115-crore in the same period last fiscal, the source said.
Leading multinational banking majors have also paid more advance tax in Q4 FY.
Citibank and Deutsche Bank have both paid a significantly higher advance tax in Q4 FY 11 at Rs 400-crore and Rs 170-crore, respectively, an Income Tax source told PTI here today.
They had paid Rs Rs 150-crore and Rs 60-crore, respectively, in Q4 FY 10.
While Standard Chartered Bank's tax payment remained unchanged at Rs 200-crore, another foreign banking powerhouse, HSBC, has paid more advance tax at Rs 449-crore in Q4 FY 11 as against Rs 190-crore in the year-ago period, the source said.
Amongst Indian public sector banks, Union Bank and Central Bank have paid less advance tax at Rs 70-crore and Rs 110-crore, respectively, in Q4 FY 11. Last fiscal, in the same period, they had paid Rs 175-crore and Rs 252-crore, respectively.
IDBI Bank too has paid less this time, a meagre Rs 2.6-crore as against Rs 25-crore in Q4 last fiscal, the source said.
Bank of Baroda (BoB), a state-run entity, has however, paid more at Rs 400-crore this time as against Rs 300-crore in Q4 last fiscal.
Mukesh Ambani-led Reliance Industries as well as the Ratan Tata-led Tata Steel have both paid more advance tax this quarter at Rs 1,054-crore and Rs 987-crore, respectively, an Income Tax source told PTI here today.
In Q4 last fiscal (FY 10), Reliance Industries and Tata Steel had both paid Rs 770-crore and Rs 513-crore, respectively.
Two-wheeler major Bajaj Auto has paid Rs 250-crore in Q4 FY 11 as against Rs 175-crore in the year-ago period while Anand Mahindra-led M&M has shelled out Rs 307-crore as against Rs 226-crore in the year-ago period.
According to the source, Hindalco has paid Rs 160-crore in Q4 FY 11 as against Rs 110-crore in the year-ago period while MRPL paid Rs 296-crore as against Rs 180-crore in Q4 last fiscal.
Engineering and construction major, L&T, has also paid more advance tax in Q4 FY 11 at Rs 300-crore as against Rs 270-crore in the year-ago period.
ADVERTISEMENT
Two biggies--FMCG major Hindustan Unilever Limited (HUL) and Tata group company, Tata Motors--have, however, paid less. While HUL paid Rs 150-crore this time as against Rs 170-crore in the year-ago period, Tata Motors has paid a meagre Rs 50-crore as advance tax in Q4 FY 11 as against Rs 115-crore in the same period last fiscal, the source said.
Leading multinational banking majors have also paid more advance tax in Q4 FY.
Citibank and Deutsche Bank have both paid a significantly higher advance tax in Q4 FY 11 at Rs 400-crore and Rs 170-crore, respectively, an Income Tax source told PTI here today.
They had paid Rs Rs 150-crore and Rs 60-crore, respectively, in Q4 FY 10.
ADVERTISEMENT
While Standard Chartered Bank's tax payment remained unchanged at Rs 200-crore, another foreign banking powerhouse, HSBC, has paid more advance tax at Rs 449-crore in Q4 FY 11 as against Rs 190-crore in the year-ago period, the source said.
Amongst Indian public sector banks, Union Bank and Central Bank have paid less advance tax at Rs 70-crore and Rs 110-crore, respectively, in Q4 FY 11. Last fiscal, in the same period, they had paid Rs 175-crore and Rs 252-crore, respectively.
ADVERTISEMENT
IDBI Bank too has paid less this time, a meagre Rs 2.6-crore as against Rs 25-crore in Q4 last fiscal, the source said.
Bank of Baroda (BoB), a state-run entity, has however, paid more at Rs 400-crore this time as against Rs 300-crore in Q4 last fiscal.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
