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Updated: September 24, 2010 17:39 IST

Jindal Steel highest taxpayer in North West Region

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Sajjan Jindal, vice chairman and managing director of JSW Steel Ltd. File photo
The Hindu
Sajjan Jindal, vice chairman and managing director of JSW Steel Ltd. File photo

Steel major Jindal Steel & Power Limited was the highest advance tax-payer in the North West Region (NWR) in the September quarter, as per Income Tax Department data.

In the entire North Region, corporate tax collections were up by 42 per cent at Rs. 3,242 crore in the April 1- September 18 period of the current fiscal, the data shows.

Hisar-based Jindal Steel paid Rs. 140 crore as advance tax up to September 15, 55 per cent more than what it paid in the corresponding period of the previous year, as per data provided by the Income Tax Department.

Notably, the latest advance tax payment by Jindal Steel is also much higher than the first advance tax instalment it paid in June this year.

The NWR comprises Punjab, Haryana, Himachal Pradesh, Chandigarh and Jammu and Kashmir.

Power major NHPC Limited occupied the second slot among the five highest taxpayers in the NWR, paying Rs. 125 crore as advance tax against Rs. 81 crore in the previous fiscal.

State Bank of Patiala and J&K Bank were at third and fourth position, paying advance tax to the tune of Rs. 90 crore and Rs 75 crore, respectively. Last year, SBOP had paid Rs. 67 crore and J&K Bank Rs. 63 crore by the same date.

Satluj Jal Vidyut Limited was at fifth position, having paid advance tax amounting to Rs 57.40 crore, as against Rs. 51 crore last year.

Overall corporate tax collection in the NWR showed robust growth of 42 per cent to Rs. 3,242 crore between April 1 and September 18, as against Rs. 2,280 crore in the corresponding period of the last fiscal.

Mobilisation from the non-corporate sector in the NWR also grew by 44 per cent to Rs. 3,002 crore during the April-September 18 period this year, compared to Rs. 2,083 crore in the previous fiscal.

The Income Tax Department is eyeing a total tax revenue of Rs. 13,165 crore from both corporate and non-corporate sources in 2010-11, 10 per cent higher than its collection of Rs. 11,926 crore in 2009-10.

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