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If advance tax payments are anything to go by, the third quarter of the current fiscal may prove to be a handsome one for the very top Indian companies.
Reliance Industries, TCS, Hindustan Unilever, Mahindra & Mahindra, were among those who paid the highest advance tax in December in the Mumbai region.
Reliance Industries paid 53 per cent higher tax for the quarter at Rs 1,535 crore while TCS also paid 53 per cent higher advance tax at Rs 810 crore. Hindustan Unilever's payments were 55 per cent higher at Rs 450 crore.
The tax collections from the top 25 corporate taxpayers in the Mumbai region were up by 27 per cent at Rs 14,429 crore.
Interestingly, 17 of the top 25 taxpayers were financial institutions and banks.
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