Top 100 cos post a 10 percent higher advance tax in Q3

Despite the overall gloom in the market, initial advance tax numbers have not been too disappointing.

As the name suggest advance tax is the tax paid in advance for the income of a particular financial year. The normal expectation is that tax has to be paid only when the income is earned but under the tax provisions the tax payer has to actually estimate the income for the entire year and based on this pay advance tax at specific time intervals.

[caption id=“attachment_157000” align=“alignleft” width=“380” caption=“Advance Tax a mixed bag”] [/caption]

The third advance tax, which was due today, provide cues on Q3 December 2011 corporate earnings. These numbers are the tell-tale signs of the profit numbers that can be expected in the quarterly results, as well as are an early sign of the performance of the company.

Advance taxes are collected in four installments - 15 percent by 15 June; 40 percent by 15 September; 75 percent by 15 December and 100 percent by 15 March.

The advance tax numbers from India Inc have been quite mixed so far with only a few companies showing year-on-year increase.Advance tax payouts by leading Indian corporates mostly remained flat in the third quarter, suggesting that the slowdown is impacting their bottomlines.

While pharmaceutical companies have done well, smaller banks have been hit by the slowdown. Capital goods numbers are disappointing while initial auto numbers are largely flat. While the advance tax payment by LIC and Bank of Baroda has shown an improvement, L&T and General Insurance Corporation paid nearly the same amount as in the corresponding quarter last year.

Top 100 companies see 10 percent rise in advance tax.

Following are the numbers which have been announced since morning. Firstpost will keep on updating these numbers as and when they break.

ONGCadvance tax of Rs 2924 crore for Oct-Dec versus Rs 2742 crore last year.

Siemensadvance tax of Rs 70 crore for Oct-Dec versus Rs 120 crore last year.

Glaxo****Pharma advance tax of Rs 80 crore for Oct-Dec versus Rs 90 crore last year.

TCSadvance tax of Rs 550 crore for Oct-Dec versus Rs 220 crore last year.

Oracle Financeadvance tax of Rs 45 crore for Oct-Dec versus Rs 50 crore last year.

Ciplaadvance tax of Rs 90 crore for Oct-Dec versus Rs 70 crore last year.

Asian Paintsadvance tax of Rs 130 crore for Oct-Dec versus Rs 100 crore last year.

Union Bankadvance tax of Rs 220 crore for Oct-Dec versus Rs 350 crore last year.

Bajaj Autoadvance tax of Rs 450 crore for Oct-Dec versus Rs 370 crore last year.

Ambuja Cementadvance tax of Rs 115 crore for Oct-Dec versus Rs 60 crore last year.

ICICI Bankadvance tax of Rs 450 crore for Oct-Dec versus Rs 450 crore last year.

Axis Bankadvance tax of Rs 662 crore for Oct-Dec versus Rs 540 crore last year.

HDFCadvance tax of Rs 475 crore for Oct-Dec versus Rs 400 crore last year.

HPCLadvance tax of NIL for Oct-Dec versus Rs 107 crore last year.

Oil Indiaadvance tax of Rs 600 crore for Oct-Dec 2011.

NTPCadvance tax of Rs 830 crore for Oct-Dec versus Rs 1,000 crore last year.

GICadvance tax of Rs 135 crore for Oct-Dec versus Rs 130 crore last year.

Yes Bankadvance tax of Rs 160 crore for Oct-Dec versus Rs 120 crore last year.

IndusInd Bankadvance tax of Rs 120 crore for Oct-Dec versus Rs 110 crore last year.

Hindustan Unileveradvance tax of Rs 300 crore for Oct-Dec versus Rs 220 crore last year.

Tata Steeladvance tax of Rs 1,100 crore for Oct-Dec versus Rs 1,000 crore last year.

Bank of Barodaadvance tax of Rs 550 crore for Oct-Dec versus Rs 420 crore last year.

SBIadvance tax of Rs 1,730 crore for Oct-Dec versus Rs 1,850 crore last year.

Godrej Consumeradvance tax of Rs 40 crore for Oct-Dec versus Rs 15 crore last year.

Hindustan Zincadvance tax of Rs 400 crore for Oct-Dec versus Rs 325 crore last year.

SBIadvance tax of Rs 1,730 crore for Oct-Dec versus Rs 1,850 crore last year.

Reliance Industries advance tax of Rs 1,002 crore for Oct-Dec versus Rs 1,190 crore last year.

Piramal Heathcareadvance tax of Nil for Oct-Dec versus Rs 1200 crore last year.

Central Bankadvance tax of Rs 100 crore for Oct-Dec versus Rs 180 crore last year.

Castroladvance tax of Rs 70 crore for Oct-Dec versus Rs 80 crore last year.

HDFC Bankadvance tax of Rs 900 crore for Oct-Dec versus Rs 750 crore last year.

Kotak Mahindra Bankadvance tax of Rs 150 crore for Oct-Dec versus Rs 80 crore last year.

Tata Motorsadvance tax of Rs 80 crore for Oct-Dec versus Rs 1190 crore last year.

Indusind Bankadvance tax of Rs 120 crore for Oct-Dec versus Rs 110 crore last year.

Bank of India advance tax of Rs 100 crore for Oct-Dec versus Rs 150 crore last year.

Pfizer paid higher advance tax of Rs 30 crore for the third quarter this fiscal, as against Rs 25 crore last year

Novartisadvance tax of Rs 20 crore for Oct-Dec versus Rs 18 crore last year.

Alok Indadvance tax of Rs 32 crore for Oct-Dec versus Rs 35 crore last year.

Tata Poweradvance tax of Rs 80 crore for Oct-Dec versus Rs 60 crore last year.

Tata Chemicaladvance tax of Rs 70 crore for Oct-Dec versus Rs 55 crore last year.

M&M advance tax of Rs 220 crore for Oct-Dec versus Rs 230 crore last year.

Crompton Greavesadvance tax of Rs 62 crore for Oct-Dec versus Rs 78.5 crore last year.

Dena Bankadvance tax of Rs 65 crore for Oct-Dec versus Rs 80 crore last year.

LICadvance tax of Rs 1200 crore for Oct-Dec versus Rs 1050 crore last year.

ITC pays advance tax of Rs 910 crore versus Rs 790 crore last year

Hero MotoCorp pays advance tax of Rs 180 crore versus Rs 120 crore last year.

The list of companies that have made no advance tax payout is led by state-run oil marketers such as Indian Oil, which is the nation’s largest corporation by revenue, Bharat Petroleum and Hindustan Petroleum. The IT official said oil companies normally do not pay advance taxes in the initial quarters, but in the last quarter, when the government pays them the subsidy compensation.

Reliance helps pull Sensex in positive territory