ONGC is highest Income Tax payer
As Oil Companies are reeling under price pressure, Oil producer has become the highest tax payer by paying an advance Income Tax of Rs. 1333 Crores. The Second and Third places also go to State owned State bank Of India and SAIL, with SBI paying Rs. 663 Crores and SAIL paying Rs. 457 Crores.
The collection from corporate income tax stands at Rs 30,655 Crore, growing by 39.81 per cent over previous year, while the collection from personal income tax stood at Rs 18,756 Crore showing a growth rate of 49.82 per cent over previous year, the statement said.