We have obtained information about Advance Tax numbers by various corporates in India paid for Q2 of FY09. Here is the list [All figures in Rs Crore],
- State Bank of India – 1,560 Vs 1,054
- ICICI Bank pays Rs 250 Cr vs Rs 125 Cr
- HDFC Bank pays Rs 250 Cr vs Rs 165 Cr
- Bank Of India pays Rs 191 Cr vs Rs 150 Cr
- Union Bank pays Rs 130 Cr vs Rs 100 Cr
- Central Bank pays Rs 220 Cr vs Nil
- Tata Steel pays Rs 300 Cr vs Rs 350 Cr
- Tata Motors pays Rs 75 Cr vs Rs 190 Cr
- TCS pays Rs 115 Cr vs Rs 20 Cr
- MRPL pays Rs 100 Cr vs Rs 20 Cr
- Indian Hotel pays Rs 44 Cr vs Rs 2 Cr
- L&T pays Rs 170 Cr vs Rs 80 Cr
- Videocon 25 Cr vs 20 Cr
- Reliance 680 cr vs 650 cr
- HDFC 290 Cr
Except Tata Steel and Tata Motors, rest have seen an increase in the numbers compared YoY basis.
Advance Tax Numbers for Q1- FY2009.
Macquarie analysis shows that advance taxes paid in a quarter by a company has no correlation. 75% of the time the advance tax paid in a particular quarter is different from the accounting tax by more than 25%. There is absolutely no pattern – not even a normal distribution, not even a systemic understatement.