ONGC leads list of top corporate advance taxpayers in Apr-Jun

[K.Karthik Raja]

ONGC leads list of top corporate advance taxpayers in Apr-Jun
Friday, Jul 18
NEW DELHI - Oil and Natural Gas Corp. Ltd. led the list of
taxpayers in
the first instalment of corporate advance tax in June, paying more
than double
the tax paid by the second placed State Bank of India, a finance
ministry
official said today.
ONGC paid 13.42 bln rupees as advance corporate tax in June, up
32% from
10.17 bln rupees paid a year ago.
SBI paid 6.63 bln rupees as advance tax in June, up 32% from 5.03
bln
rupees in the year ago period.
Companies pay 15% of their corporate tax liability for the year as
advance tax in June.
The list of top corporate taxpayers in the first quarter was
dominated by
state-owned companies. Of the top 10 corporate taxpayers, seven were
state-owned companies.
Following is the list of top 10 corporate advance taxpayers in
June (in
bln rupees):
.
Company Q1 advance tax Q1 advance tax Yr-on-yr
2008 2007 % change
.
ONGC 13.42 10.17 32.0
SBI 6.63 5.03 31.8
SAIL 4.57 4.50 1.6
LIC 4.35 3.56 22.2
NMDC 4.00 2.20 81.8
Tata Steel 3.56 2.20 61.8
Reliance Industries 3.40 2.95 15.3
ICICI Bank 3.40 2.50 36.0
GAIL 3.35 1.38 142.8
BSNL 3.12 1.05 40.1
End
.