Rs 300 cr FBT in first quarter

Rs crore

FBT paid April-June 05

SBI

85.00

TCS

9.00

ONGC

8.77

Reliance Ind

5.00

SAIL

4.50

ITC

4.32

CESC

4.00

Tata Steel

3.91

Larsen & Toubro

3.87

NTPC

3.00

HPCL

2.25

 The 210 companies have provided Rs 175 crore for FBT accounting for only 0.1 per cent of the sales for the quarter ended June 2005. The FBT of Rs 175 crore also accounted for a modest 1.75 per cent of the tax provision made by 210 companies.  The turnover of the corporate sector, including banks, is estimated to over Rs 400,000 crore for the quarter ended June 2005.  The estimates are based on sales of Rs 388,138 crore achieved by the 2,865 companies during the quarter ended March 2005.  The 2,865 companies paid tax of 14,449 crore in the March 05 quarter. Even if the companies paid FBT at 1.75 per cent of the corporate tax, the FBT estimated to be around Rs 275-300 crore.  In the list of FBT payers, State Bank of India tops with FBT of Rs 85 crore, followed by TCS Rs 9 crore, ONGC Rs 8.77 crore, Reliance Industries Rs 50 crore, Steel Authority of India Rs 4.50 crore, ITC Rs 4.32 crore, CSES Rs 4.00 crore and Tata Steel Rs 6.97 crore.  SBI, the largest FBT payee, so far has made a provision of Rs 85 crore as FBT which is accounted for 0.93 per cent of its revenues or a whopping 18.88 per cent of its tax provision made for the quarter ended June 2005.  The SBI earned revenue of Rs 9166.29 crore and made tax provision of Rs 450 crore (including FBT) for the June 05 quarter.  TCS paid FBT of Rs 9 crore, which is 0.40 per cent of its quarter revenue or 7.18 per cent of its tax provision made for the quarter ended June 2005.  FBT for ONGC and Sail accounts for 0.08 per cent of its quarterly sales. For Reliance Industries FBT accounts for 0.02 per cent of its quarterly sales.