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Advance Tax Collection – Autos + Commodoties Lag

December 16, 2008

We have finally got the list of Advance Tax Numbers from IT Authorities in Mumbai and here is the picture.

For Q3FY09, PSU Banks led by SBI, Bank of India, Bank of Baroda, Central Bank of India have remitted higher Advance tax compared to Q3FY08.

Private Banks [ICICI / HDFC Bank] advance tax payments were below Q3FY08. The worst was from Mahindra & Mahindra which has paid mere Rs 4 crore compared to 60 crore a year ago. Ultratech and Tata Steel have also paid significantly lesser tax. The following chart shows the numbers.

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