The advance tax collections have registered a positive growth in the second quarter after witnessing a negative growth in the first quarter. While sectors such as consumer durables, automobiles, software and cement showed smart recovery, realty, metals, steel, mining and hospitality continued to be badly hit. Corporate advance tax and advance personal income-tax were up by 14.7% and 1.7%, respectively in September. Total advance tax collections in the second quarter stood at Rs 49,501.80 crore as against Rs 38,367 crore in September, 2008. The advance tax collections in the first quarter were low at Rs 21,453.50 crore. However, the stimulus measures, including tax cuts and additional spending by the government helped the economy to bounce back. State Bank of India paid the highest advance tax in September, 2009, closely followed by ONGC and RIL. While SBI paid 17.44% more tax in September, 2009 at Rs 1,832 crore as against Rs 1,560 crore in September, 2008, ONGC’s contribution came down by 25.54% to 1,796 crore as against Rs 2,412 crore in September, 2008. Among the top 20 corporate taxpayers, Bharti Airtel’s tax contribution showed the highest 220.53% growth at Rs 484 crore in September, 2009 as against Rs 151 crore in September, 2008. Software major Infosys was the top performer in the IT pack. The company paid Rs 300 crore as advance tax, a growth of 100% over September, 2008.

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