There have been a series of criticisms against individual taxpayers for flouting tax norms in India. However, the following list of India’s top ten corporate tax payers indicates that corporate tax payers have always been consistent in paying taxes. Some of the corporate companies shell out even 50% from the profits earned by them. So here are some highest tax payer company list.
ONGC – Although there are consistent reports of incurring losses, Oil and Natural Gas Corporation remains the top corporate tax payer in India. The tax it pays is worth 11, 49.13 billion INR which is just over 50% of the profit the company earns.
Coal India – It pays a whopping amount of 55.95 billion INR. In 2011, the government of India had conferred this corporate house with Maharatna status.
Reliance Industries – Often described as the largest public trading company with regard to India’s market capitalization. It paid 47.83 billion INR as taxes, which is 25% less than the profits it earned.
State Bank of India – SBI which is the largest bank of India pays 45.99 billion INR as taxes.
The National Thermal Power Corporation – The abbreviation of which is NTPC makes the India government richer by paying 35.87 billion INR.
The Steel Authority of India – The acronym of which is SAIL pays approximately 35 million INR in the form of taxes.
Life Insurance Corporation of India – India’s most trusted and reliable insurance carriers shells out 26.77 billion INR by way of taxes.
Tata Steel – It has paid 3,636.46 crores INR as taxes.
Infosys – The global leaders of outsourcing, technology and consulting with a turnover of 7,231 billion US dollars pays the Indian government 3,367 crore INR as tax.
BHEL – The full-form of which is Bharat Heavy Electricals which is a leading manufacturer of integrated power plant and one among the largest engineering concern when it comes to annual turnover pays 3,279.97 crore INR as taxes.
If the taxes paid by these government run companies bring more revenue to the government wonder what makes a majority of Indians think that India’s private sector is better compared to government run sectors. Additionally, when more that 70 percent of the tax is paid by government owned companies; don’t you think India’s private sector need to buck up?
Moreover, unlike the private sector which is more concerned about making profits and expanding and shun the rural areas and the poor, government owned companies indulge in social service and foot their bill
Top 50 Highest Tax Payer Company in India
|24||Adani Green Ene||-59.29|
|29||Power Grid Corp||3,519.57|
|34||SBI Life Insura||-8.63|
|43||Dr Reddys Labs||-161.90|