Mumbai: Leading lights of India Inc such as Reliance Industries (RIL), major Tata group companies and auto majors Mahindra & Mahindra (M&M) and Bajaj Auto seem to have clocked a robust performance so far this fiscal if their higher advance tax outgoes are any indication, reports PTI.
The Mukesh Ambani-spearheaded RIL has paid a higher advance tax this time at Rs1,191 crore as against Rs834 crore in the year-ago period, an Income Tax source told PTI here today.
Kumar Mangalam Birla's Hindalco has paid a higher advance tax at Rs200 crore as against Rs148 crore in the same period last year.
Three Tata group companies—Tata Steel, TCS and Tata Motors—also seem well set on the growth path with higher tax outgoes.
Tata Steel has paid Rs1,000 crore as advance tax as against Rs650 crore in the year-ago period, while TCS has an outgo of Rs230 crore as against Rs177 crore in the corresponding period of last year.
Tata Motors has also paid a substantially higher advance tax this time at Rs220 crore as against just Rs100 crore in the year-ago period, the source said.
Two-wheeler major, Bajaj Auto has paid Rs370 crore as against Rs310 crore in the year-ago period while M&M’s outgo this time stands at Rs236 crore as against Rs195 crore in the same period last year.
Two leading cement majors, however, have paid a lesser advance tax. ACC has paid only Rs40 crore this time as against Rs110 crore in the same period last year while Ambuja Cements has paid a substantially lower Rs60 crore as against Rs140 crore in the year-ago period, the source said.
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