International BusinessAdvance tax collections shore up in Q2
Advance tax collection shored up in the second quarter of the financial year indicating expectations of profit for the September quarter.
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Public sector lender, State Bank of India (SBI) has paid Rs 1,832 crore in the second quarter of 2009-10 as against Rs 1,068 crore in the corresponding period last year.
Other public sector banks like Bank of India paid Rs 470 crore as against Rs 230 crore,Bank of Baroda paid Rs 412 crore compared to Rs 255 crore and Central Bank of India paid Rs 73 crore respectively. Private sector lender Yes Bank paid Rs 58 crore as against Rs 33 crore in the corresponding period last year.
Among Tata group firms,Tata Consultancy Services paid Rs 220 crore advance tax compared to Rs 53 crore in the corresponding period last year.
During the second quarter BPCL, M&M, Lupin paid Rs 312 crore, Rs 112 crore and Rs 49.7 crore respectively as against Rs 40 crore, 17.5 crore and 11.4 crore in the same period a year ago.
Bombay Stock Exchange’s sensitive indices Sensex was up 1.31 per cent or 212.70 points to 16,426 points at 12:34 pm.