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News Misc. - Direct Tax

  • Sep 16, 2014
  • Some IT companies, banks pay more advance tax this Sept

    Early indications of second installment of advance tax payment due on September 15 showed a mixed trend, with certain banking, IT and manufacturing companies paying more this quarter from a year ago. Field officers of the tax department have been asked to raise advance tax receipts from sectors like automobiles where early signs of revival have been seen.Sources said Union Bank paid about Rs 355 crore in September, compared to Rs 340 crore in the same quarter a year ago, while TCS paid about Rs 1,390 crore against Rs 1,035 crore paid last September. Bajaj Auto paid about Rs 325 crore against Rs 365 crore paid in the same period a year ago.

    Source - http://www.financialexpress.com