Saturday, March 21, 2009

Advance Tax Collection so far:-

The Advance Tax payments for Q4FY09 started coming in from 16 Mar, 2009 and still we have around a week for more numbers. This is a compilation of figures so far along with highlights:-

  • Q4 Adv Tax collection from 50 big corporate up 10.54% at Rs 16,252.48-crore Vs Rs 14,703.19 crore a year ago.
  • For the entire 2008-09, Adv Tax Collection from 50 big corporate up 11.36% at Rs 59,441.86 crore Vs Rs 53,378.92 crore a year ago.
  • ONGC highest tax payer in Q4 as well as entire fiscal, pays 0.48% more tax at Rs 2,102 crore in Q4, but just Rs 7,558 in the entire fiscal, down 8.99% from Rs 8,305 crore.
  • 18 out of 50 big corporate tax payers contributed less to the Government kitty this fiscal compared to Q4 payments in the last fiscal. Firms that paid less Adv Tax compared to last year - Reliance Industries, SAIL, NTPC, BHEL, ITC, GAIL, Standard Chartered Bank, HDFC, Sesa Goa, NABARD, NALCO, Infosys Technologies, Hindustan Zinc, Deutsche Bank, Corporation Bank, Maruti Udyog, MRPL and Hindalco
  • Even as many players in the banking sector paid handsome advance tax in the fourth quarter, Corporation Bank paid just Rs 2 crore against Rs 110 crore in the previous Q4.
  • Net Direct Tax collection up to March 17 this year stood at about Rs 3,12,800 crore, surpassing the net collection of Rs 3,12,202 crore last fiscal. Going by this collection trend, the Centre is well on course to exceed the revised estimate of Rs 3,45,000 crore for 2008-09.

Large payers (In Rs Crores):-

Company

Q4 Adv Tax

% Change

ONGC

2102

0.50

SBI

1810

27.60

Citibank

1010

178.20

SAIL

849

-30.90

LIC

810

23.30

NTPC

681

-15.70

Bank India

590

208.90

PNB

475

90.00

Tata Steel

406

35.30

BHEL

400

-33.30

Reliance Ind

365

-17.60

HSBC

350

29.60

ACC

319

36.90

BankBaroda

280

NA

LT

275

61.76

HDFC Bank

275

10.00

Union Bank

253

94.60

ICICI Bank

250

0.00

HDFC

240

-42.90

PFC

173

1158.91

StanChart

165

-19.50

Infosys

150

-16.67

IOC

150

-86.80

Deutsche

140

-13.00

HUL

130

30.00

ITC

NA

-28.99

GAIL

NA

-66.67

Sesa Goa

NA

-43.79

Hind Zinc

NA

-75.00


Others:-

Company

Q4 Adv Tax

% Change

Barclays

85

142.90

Dena Bank

75

50.00

Tata Chem

75

-16.67

Hindalco

70

-53.33

Grasim

65

-76.79

GSK Pharma

56

0.00

TCS

53

-54.31

Yes Bank

49

71.93

Ultratech Cemco

47

-69.68

LIC Hsg Fin

46

53.33

Kotak Mah Bank

45

NA

Maruti

38

-82.04

Tech Mah

35

Prev 0

Cipla

28

86.70

Indus Ind

27

42.11

Parle

25

66.70

Aventis

16

10.30

SCI

12

NA

Tata Power

7

-83.72

M&M

0

Prev 116

BPCL

0

Prev 240

Tata Motors

0

Prev 75

(NA: Figures Not Available)


Direct tax mop-up surpasses previous fiscal’s collections http://www.thehindubusinessline.com/2009/03/19/stories/2009031952160500.htm

Advance tax kitty up 18% http://timesofindia.indiatimes.com/Business/India-Business/Advance-tax-kitty-up-18/articleshow/4283370.cms

Advance tax from top 50 firms up 10.5% in Q4 http://www.business-standard.com/india/news/advance-tax50-top-firms105-in-q4/56878/on


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