November 22, 2008

SAIL 5th largest corporate taxpayers in India

It is reported that, with a slowdown in the economy, rising inflation and eroding profits, there is tremendous pressure on companies across sectors. The worst hit is the oil companies as crude prices are zooming to record highs.

But there is a silver lining amidst the gloom, especially for the government. With the tax coffers filling up like never before, thanks to more taxes being paid by India’s top performing companies, the government can breathe at least a little easier.

Despite incurring heavy losses, India's oil companies are the top taxpayers. The top 10 corporate taxpayers in India are

Rank	Company	2006-07	2007-08	Change
1	ONGC	10,045	9,557	-4.9%
2	IOC	1,125	4,625	311.1%
3	SBI	4,266	4,599	7.8%
4	NTPC	4,289	3,587	-16.4%
5	SAIL	3,429	3,509	2.3%
6	RIL	1,538	2,742	78.3%
7	LIC	1,016	2,627	158.6%
8	DICGC	1,587	2,295	44.6%
9	BHEL	1,340	2,036	51.9%
10	TATA Steel	1,938	1,889	-2.5%

In INR Crore

Steel Authority of India Limited was the 5th top taxpayer in India. It contributed INR 3,509 crore during 2007-08 fiscal as against INR 3,429 crore in 2006-07 fiscal.

TATA Steel is the 10th highest taxpayer, paying INR 1,889 crore in 2007-08 fiscal as against INR 1,938 crore during 2006-07 fiscal.