The list of the top 10 corporate tax payers in India, presented here, is a direct pointer to the fact that even in the wake of serial complaints against individual tax payers in India flouting major tax norms, the corporate tax payers have been very consistent with their payments with some of them even shelling out as high as 50 per cent of their profits. Let us take a look:
Oil and Natural Gas Corporation: ONGC or Oil and Natural Gas Corporation along with other gas companies in India remained among the top 10 corporate tax payers in the country despite consistent reports of losses incurred by oil companies. It paid taxes worth INR 11, 49.13 billion which amounted to just a bit more than 50 per cent of the profits earned by the company.
Coal India: Just like ONCG, Coal India too, has been a consistent fixture among the top corporate tax payers in India. It had paid taxes worth $ 725.01 million in 2007-08 along with the dividend of $345.86. At present its corporate taxes are standing at a whopping INR 55.95 billion. It had also received the Maharatna status by the government of India in the year 2011.
Reliance Industries:Touted as the biggest publicly traded companies in the context of market capitalization in India in the year 2011, Reliance Industries paid taxes worth INR 47.83 billion as tax, which in turn was worth a little less than 25 per cent of the profits earned by it.
State Bank of India: India's largest bank, SBI had paid a whopping INR 45.99 billion as taxes in the year 2007-2008. In the previous year (2006-2007) taxes paid by the bank stood at INR 42.66 billion
NTPC orThe National Thermal Power Corporation:It made the government richer by a whopping INR 35.87 billion in the year 2007-2008?
The Steel Authority of India: SAIL or the Steel Authority of India had paid around 35 billion as taxes during the period 2007-2008.
Life Insurance Corporation of India or LIC one of the most trusted insurance carriers in India had shelled out INR 26.27 billion as taxes in the year 2007-2008.
Tata Steel paid taxes worth INR 3,636.46 crore in the recent past.
Infosys: The global leader in technology, consulting and outsourcing with revenues over US$ 7.231 billion paid INR 3,367.00 crore as tax
Bharat Heavy Electricals or BHEL The leading integrated power plant manufacturer and one of the biggest engineering concerns as far as annual turnover is concerned, BHEL paid INR 3,279.97 crore as taxes.