Oil explorer ONGC has emerged as the No 1 advance taxpayer for the June 15 instalment this year, dislodging banking behemoth State Bank of India.
For the latest June quarter, ONGC paid an advance tax of Rs 1,347 crore (Rs 1,062 crore), higher than SBI’s Rs 1,170 crore.
Last year, for the June 15 instalment, SBI was the No 1 advance taxpayer with a payout of Rs 1,100 crore. This shows that ONGC’s payout this year has gone up by 27 per cent and SBI by 6.36 per cent.
On an aggregate basis, the advance payout by the top 10 taxpayers grew 6 per cent to Rs 6,288 crore (Rs 5,934 crore). This is lower than the 21 per cent increase seen for the same instalment last year at Rs 6,209 crore.
Meanwhile, private sector presence in number terms improved this year. There were four private sector companies —Reliance Industries, Tata Steel, HDFC Bank and ITC — in the top 10 list.
Reliance Industries, ICICI Bank and HDFC Bank figured in the top 10 list for the June 15 instalment in 2011.
On the sectoral front, the software biggies have increased their advance tax payouts. While Infosys’ payout stood at Rs 440 crore (Rs 300 crore), TCS paid Rs 320 crore (Rs 250 crore) for the June 15 instalment. Wipro's payout stood at Rs 125 crore (Rs 97 crore).
In the auto sector, there was a mixed trend, with Bajaj Auto making a higher payout at Rs 150 crore (Rs 125 crore). Mahindra & Mahindra's payout remained flat at Rs 90 crore.
In the banking sector, payouts by private sector biggies were higher. While ICICI Bank forked out Rs 500 crore (Rs 400 crore), Axis Bank’s payout was up nearly 20 per cent at Rs 393 crore (Rs 329 crore).
Among public sector banks, Punjab National Bank paid lower advance tax of Rs 370 crore (Rs 400 crore). Bank of Baroda’s payout was up 16.67 per cent at Rs 315 crore (Rs 270 crore).
Among foreign banks, Standard Chartered Bank’s payout was Rs 270 crore (Rs 220 crore), HSBC Bank’s payout was Rs 250 crore (Rs 240 crore), while Citibank forked out advance tax of Rs 200 crore (Rs 150 crore) for the June 15 instalment.