JOIN USThe total third quarter advance tax paid by these 90 companies stands at Rs 12,881-crore as against Rs 10,404-crore in the corresponding period 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 told PTI here 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 third quarter fiscal year 2010 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. Out of the seven, four are from the banking sector and include biggies such as India’s largest private sector bank, ICICI Bank and foreign majors—HSBC, JP Morgan, and Barclays Bank.