Advance tax up marginally by 7.5%, reflects impact of slowdown
lower advance tax in the third quarter at Rs 1,701 crore as against Rs 1,730 crore in the
same period last year.
Similarly, housing lender HDFC had said it has paid Rs 560 crore in advance tax against Rs 475 crore in the review period, a growth of 18 per cent.
Software major TCS has also seen a major spike in its tax outgo at Rs 810 crore compared to Rs 530 crore, which is a growth of over 50 per cent, while Tech Mahindra has paid Rs 60 crore, which is the same amount it had paid in the year-ago
period.
Bank of Baroda paid Rs 550 crore compared to Rs 525 crore last quarter while Central Bank of India paid Rs 120 crore against Rs 104 crore in the year ago period.
However, the largest steel maker Tata Steel has seen its outgo decline by more than half to Rs 529 crore as against Rs 1,090 crore.
Among the auto sector, Bajaj Auto has paid Rs 470 crore compared to Rs 450 crore, while Tata Motors has not paid any amount this time around against Rs 60 crore it had paid in the Sept-Dec quarter of last fiscal.
Finance Minister P Chidambaram had earlier said that I-T Department will adopt a non-adversarial approach in realising the direct tax target of Rs 5.70 lakh crore for 2012-13.
