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Most marquee companies have increased their advance tax payment for the third quarter (October-December, or Q3) by double digits. It’s a sign that Corporate India is on the road to recovery.
Engineering and construction conglomerate engineering company Larsen & Toubro (L&T), state-owned heavyweight Indian Oil Corporation (IOC), information technology (IT) major Infosys, Tech Mahindra, and private banks ICICI Bank and Kotak Mahindra Bank led the table.
L&T made a tax payment of Rs 1,595 crore till December 15 this financial year — 478 per cent higher than Rs 275 crore in the corresponding period of 2019-20. The first two quarters were muted,
