HDFC, Yes Bank pay higher advance tax for Q2, FY11

Home finance major HDFC has paid around Rs 400 crore as advance tax for the second quarter of the 2010-11 financial year, vis-a-vis Rs 320 crore in the year-ago period, a source said.

This translates into an increase of 20 per cent in the amount of advance tax the lender paid this fiscal vis-a-vis FY10.

Meanwhile, private sector Yes Bank paid 81 per cent more advance tax in FY11, at Rs 105 crore, as against Rs 58 crore in the year-ago period, the bank said in a statement here today.

The higher advance tax paid by the two lenders in Q2, FY11, indicates that the sector is geared to give a healthy performance this fiscal.