Companies pay higher advance tax in Q4

Several leading corporates have paid more advance tax in Q4 of FY11 compared to the year-ago, indicating their healthy financial performances.

Mukesh Ambani-led Reliance Industries as well as the Ratan Tata-led Tata Steel have both paid more advance tax this quarter at Rs 1,054-crore and Rs 987-crore, respectively, an Income Tax source said.

In Q4 last fiscal (FY 10), Reliance Industries and Tata Steel had both paid Rs 770-crore and Rs 513-crore, respectively.

Two-wheeler major Bajaj Auto has paid Rs 250-crore in Q4 FY 11 as against Rs 175-crore in the year-ago period while Anand Mahindra-led M&M has shelled out Rs 307-crore as against Rs 226-crore in the year-ago period.

According to the source, Hindalco has paid Rs 160-crore in Q4 FY 11 as against Rs 110-crore in the year-ago period while MRPL paid Rs 296-crore as against Rs 180-crore in Q4 last fiscal.

Engineering and construction major, L&T, has also paid more advance tax in Q4 FY 11 at Rs 300-crore as against Rs 270-crore in the year-ago period.

Two biggies - FMCG major Hindustan Unilever Limited (HUL) and Tata group company, Tata Motors- have, however, paid less.

While HUL paid Rs 150 crore this time as against Rs 170 crore in the year-ago period, Tata Motors has paid a meagre Rs 50-crore as advance tax in Q4 FY 11 as against Rs 115 crore in the same period last fiscal, the source said.