Advance tax numbers Q4 FY11 : A mixed bag

by khalid on 16/03/2011 · 0 comments

advance tax

Advance Tax Numbers for the quarter Q4 FY11 is showing a mixed bag. The DATA available with IT Dept. showing most of the big companies paying more advance tax for the last quarter of current fiscal FY 10-11 though some of the heavyweights like SBI, HUL and Tata Motors disappointed India Inc. by paying less advance tax for Q4 FY11.

Reliance Industries, Tata Steel, L&T, Hindalco, Mahindra & Mahindra, HDFC and Bajaj Auto have paid more advance tax for Q4 FY11 in comparison to their last year payments. Reliance Industries paid Rs 1,054-crore while its last year figure was Rs 770-crore. Another heavyweight Tata Steel paid Rs 987-crore, last year in the same quarter company paid Rs 513-crore.

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. 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. 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.

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.

In this last quarter of current fiscal, foreign banks operating in India have paid higher year-on-year advance tax compared to some of their domestic counterparts in India.

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