Corporate tax payments show improved earnings
Corporate tax payments show improved earnings Payment of corporate taxes showed increased earnings in the second quarter, reports Business Standard.
In the past two years, SBI, ICICI Bank, Reliance Industries and Gujarat Ambuja are listed among the top 10 tax payers in the country. It is learnt that State Bank of India continues to remain the top taxpayer.
Advance taxes are paid in four installments — in June, September, December and March.
SBI paid nearly 50% more i.e. Rs 10.50 billion in the June-September quarter as against Rs 8.63 billion a year ago. Reliance Industries paid Rs 6.50 billion in the June-September 2007 period. ICICI Bank , India’s second largest bank, paid Rs 4.50 billion advance tax for the June-September 2007 period.
