Small Benefits For Telco, M & M Seen

Like-wise, M&M too will save Rs 21.67 crore as a result of the latest corporate tax reforms. Telco's tax liability is expected to come down to Rs 187.48 crore, while that of M&M may drop to Rs 94.83 crore in 1997-98 from Rs 116.50 crore in 1995-96. However, both Telco and M&M will have to shell out Rs 14.30 crore and Rs 4.41 crore respectively as taxes on their dividend pay-outs.