Initial advance tax numbers from big corporate houses like Reliance, SBI and HDFC show increased payout.
The State Bank of India’s Q3 advance tax stands at Rs 1,700 crore versus Rs 1,088 crore (YoY), HDFC’s advance tax is at Rs 279 crore versus Rs 215 crore (YoY). ICICI Bank’s Q3 advance tax is at Rs 470 crore versus Rs 500 crore (YoY).
Reliance Industries Limited has given advance tax numbers at Rs 440 crore versus Rs 1045 crore (YoY). Now these two numbers are not comparable primarily because the Rs 1045 crore last year in Q3 included Rs 499 crore of tax given as Minimum Alternate Tax (MAT) paid on their RPL stake sale last year. RIL had paid Rs 536 crore in MAT for RPL stake sale last year. It also included Rs 200 crore as tax deducted at source on behalf of the suppliers.
Taking all this into account, RIL has paid almost the same advance tax as last year.
Monday, December 15, 2008
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