The nation's largest lender State Bank of India (SBI) has made a lower advance tax payment this quarter compared to the year-ago period--down Rs 1,068 crore to Rs 869 crore, an income tax source said here today.
"SBI, along with other banks like Bank of India and Citibank, paid lower amount in advance tax in the first quarter, while ICICI Bank maintained status-quo," an income tax source said.
SBI has paid Rs 869-crore in this quarter as against Rs 1,068 crore it paid in the year-ago period. While Bank of India shelled out only Rs 158 crore against Rs 231 crore it paid last year. Citibank paid only Rs 100 crore compared to Rs 180 crore it paid last year in the same period.
SBI spokesperson could not reached for comments.
The largest private sector lender ICICI Bank maintained status-quo by paying Rs 350 crore for this quarter, the source said.
Another big private sector bank HDFC has shelled out Rs 315 crore for this quarter against Rs 250 crore it paid in the year-ago period, while Bank of Baroda paid marginally higher amount at Rs 225 crore as against Rs 210 crore it paid in the same period last year.
Union Bank has made a payment of Rs 168 crore as against Rs 104 crore it paid during same period last fiscal, while Central Bank of India has made a payment of Rs 150 crore as against Rs 85 crore.
Private lenders like Kotak Mahindra, and Yes Bank, and state-run lenders such as IDBI Bank and Dena Bank too have performed well according to the patterns of their advance tax payment during this quarter.
Kotak Mahindra and Dena Bank have paid Rs 45 crore each for this quarter as against their earlier payment of Rs 30 crore and Rs 36 crore, respectively in the year-ago period.
Yes Bank made a payment of Rs 50 crore as against Rs 27 crore during, while IDBI Bank has paid Rs 81 crore as against Rs 14 crore it paid during the year-ago period.
The spokespersons of these banks could not be reached for comments.
