Among the automobile majors, Bajaj Auto and Mahindra & Mahindra (M&M) have come out with stellar performance in advance tax payment during the first quarter, while Tata Motors has paid less than what it had paid in the year-ago period, according to income tax sources.
"Both M&M and Bajaj Auto have recorded over 100 per cent growth in advance tax this quarter which shows their profitability, while Tata Motors has recorded a drop in advance tax payment," an income tax source told PTI here today.
Bajaj Auto shelled out Rs 110 crore for this quarter as against Rs 50 crore it paid in the last fiscal same period, while M&M made a payment of Rs 63 crore against Rs 17 crore in the year-ago period.
Tata Motors has paid Rs 60 crore for this quarter as compared to Rs 70 crore it paid last year.
Meanwhile, other two Tata Group companies, TCS and Tata Steel, have upgraded their advance tax payment. While TCS has paid Rs 128 crore against Rs 53 crore in the year-ago period, Tata Steel shelled out Rs 300 crore as against its year-ago payment of Rs 250 crore.
Spokespersons of the three companies could not be contacted.
