Leading banks among Mumbai's top ten tax payers in FY07

MUMBAI: Country's leading domestic and multi-national banks figured among the top ten advance tax paying corporates in Mumbai in 2006-07.

"Among the corporate, State Bank of India paid the highest advance tax of about Rs 2,775 crore," income-tax sources here said.

Other lenders that stood in the top ten advance tax payers list were ICICI Bank (Rs 1,025 cr), Standard Chartered Bank (Rs 790 crore) and Hongkong and Shangahi Banking Corproation (HSBC) India (Rs 704 crore).

Life Insurance Corporation emerged as the second highest advance tax payer at around Rs 2,030 crore.

Tata Steel was the third largest advance taxpayer at Rs 1,760 crore and Deposit Insurance and Trade Guarantee Corporation was fourth at Rs 1,243 crore.

Reliance Industries, the largest private sector corporate entity, stood at the fifth position by paying Rs 1,220 crore of advance tax.

Aditya Birla Group Company Hindalco at Rs 885 crore and Indian Oil Corporation, which paid Rs 667 crore, were among other top ten advance tax payers.