Most of India’s top taxpayers include corporate entities and individuals who contribute to the most beneficial economic growth and other forms of development. Various taxpayers further showcase their financial success and other forms of responsibility through which they also make adequate funds towards the government and further strengthen the country's economic infrastructure.
Top 10 Highest Taxpayer Companies in India
The top 10 highest tax-paying entities in India are given below:
Reliance Industries
One of India's largest institutions in the private sector and stands under Fortune 500 companies in the entire 2022-2023 monetary year, this enterprise paid a huge tax amounting to Rs. 20, 713 crores. This industry operates in multiple sectors that include energy, textile, petrochemicals, communication and other digital services which boosts the economy of the country and leads to the progressive growth of the country.
State Bank of India
Being a multinational company with a Fortune 500 company. Operated from Mumbai the financial capital as its headquarters, it is considered as a public bank and provides financial services under a regulated statutory body. SBI has paid Rs. 17,649 crores as amount of taxes during the financial year 2022-2023. Those services include personal banking, corporate banking and treasury operations services.
HDFC Bank
The primary financial organization in India to get hold of approval from RBI, through which it has set up a bank in the non-public kind of region and paid a sum of Rs. 15,350 crores in taxes at some stage in the financial year of 2022-23. It is regarded as the most patron-friendly, via which it affords banking products and performs a key position inside the developing banking zone.
Tata Consulting Services
This provides IT consulting, includes the services and business towards the organizations and provides consultation. In collaboration with most of the business and became the world’s largest in the past 50 years. Paid Rs. 14,604 in the form of tax towards the Indian government. One can get digital transformation solutions established all over India and outside.
ICICI Bank
Being a bank was regarded as a wholly owned subsidiary of ICICI Bank. Paying a total sum of Rs. 11, 793 towards the Indian government in the form of taxes. They are promised to services retail banking services followed by corporate banking and other applicable treasury operations.
ONGC
Being one of India’s largest oil and gas exploration companies, it was founded on 14th August 1956 by the Indian government and has paid a whopping amount of Rs. 10,273 in the form of taxes. During the financial year of 2022-23. It has played a major role in fulfilling the need for the nation's energy demands.
TATA Steel
Popularly known for its high-quality steel production and innovative industrial manufacturing. In 1907 Asia's first private integrated steel company was developed in India's first industrial city, a key player in the global steel industry Jamshedpur. During the financial year 2022-23, this industry has paid a total of Rs. 10,160 crores as tax.
Coal India
Coal India Limited is regarded as one of the largest coal manufacturers in the world, it was established in November 1975 as a coal mining corporation. It has made towards the economy of the nation and paid Rs. 9,876 crores in the form of tax during the financial year of 2022-23. It also has an important role when it comes to providing energy resources to help to make progressive growth.
Infosys
Infosys was established in 1981 and is an NYSE-listed global consulting and IT services company thanks to over 336k employees. This company paid a total amount of Rs. 9,214 as tax to the Indian government. This organisation has the largest IT globally recognised for its quality technological solutions and other consulting services.
Axis Bank
To provide a wide spectrum of financial services to its and mid-sized companies, agriculture, MSME, and retail businesses. It is among the 3rd largest private sector banks in India. This Bank has paid a total tax of Rs. 7,703 to the Indian government. They are dedicated to providing effective banking solutions to various individuals and business management, which shows their support for the customers.
Top 10 Highest Taxpayer Persons in India
The below-mentioned are the highest taxpayer individuals in India who have paid the highest taxes in India:
- Shah Rukh Khan- Rs. 92 crore
- Thalapathy Vijay- Rs. 85 crore
- Salman Khan- Rs. 75 crore
- Amitabh Bachchan- Rs. 71 crore
- Virat Kohli- Rs. 66 crore
- Ajay Devgn- Rs. 42 crore
- MS Dhoni -Rs. 38 crore
- Ranbir Kapoor- Rs. 36 crore
- Sachin Tendulkar- Rs. 28 crore
- Hrithik Roshan- Rs. 28 crore
Highest Taxpayer Businessman in India
The Reliance Industries which is led by businessman Mukesh Ambani stands at the top of the nation towards making an efficient corporate responsibility and to provide for a proper economic influence and being one of the highest tax-paying companies in 2024. This corporation has paid a total of Rs. 20, 713 crore in the form of tax during the year 2024. The corporation is very well focused on various petrochemical innovations and high telecommunication and is also contributing towards the revenue and business portfolio. Thus it also stands as one of the biggest corporations making an immense contribution towards the Indian economy.
Top 10 Highest Tax Paying States in India
The below mentioned are the top 10 highest tax-paying states in India in the year 2024:
- Maharashtra- Rs 23, 598 crore
- Karnataka- Rs. 10,061 crore
- Gujarat- Rs. 9,238 crore
- Tamil Nadu- Rs. 8,324 crore
- Uttar Pradesh- Rs. 7,178
- Haryana- Rs. 6,678
- West Bengal- Rs. 4,853 crore
- Delhi- Rs. 4,401 crore
- Telangana- Rs. 4,178 crore
- Odisha- Rs. 3,854 crore
Conclusion
The top taxpayers of today include multiple organisations from different sectors. They provide a great boost to the Indian economy and also helps in providing for the revenue of the country through which there stands multiple developments for the welfare of the public and also ensure proper economic stability. These organizations not only provide jobs but also place a high pedestal for the development of the country and also provide for effective and helpful innovation.
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