Tuesday, September 18, 2012

Despite slowdown advance tax numbers rise

                                                        Data source: Business Standard

Despite the ongoing slowdown in the economy, the advance tax collections from top 100 companies have increased by 10% year-on-year during the July-September quarter (2QFY13). Above chart shows advance tax payments of the top 5 firm. State Bank of India (SBI) was the highest tax payer during the quarter. Barring Reliance Industries Ltd (RIL), all other companies have witnessed a surge in the advance tax payment. It must be noted that the companies are supposed to pay 30% of the total advance tax for the fiscal during the current quarter.

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