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VSNL, MUL among top corporate taxpayers

Videsh Sanchar Nigam and Maruti Udyog were among India's top ten corporate taxpayers, Minister of State for Finance G N Ramachandran told the Lok Sabha on Friday.

National Thermal Power Corp, Oil and Natural Gas Corporation, Life Insurance Corporation, Mahanagar Telephone Nigam, Bharat Heavy Electricals, Hindustan Petroleum, Indian Oil Corporation, and New India Assurance are the others among the top ten taxpayers.

Meanwhile, the Lok Sabha was also informed that Shaw Wallace, three Sahara group companies, late Harshad Mehta, and Hiten P Dalal are among the ten corporate bodies and individuals who have the highest income tax demand as on March this year.

The top ten corporate bodies in this list are Sahara India Financial Corporation, Sahara India Mutual Benefit Company, Shaw Wallace, Maruti Udyog, Sahara India Airlines, Videsh Sanchar Nigam Limited, Growmore Research and Asset Management Ltd, GTC Industries, Triumph International Ltd and Premier Automobiles.

Among the top ten individuals with the highest outstanding I-T demand are Harshad Mehta and Hiten Dalal.

Ramachandran also said that 18 multinational companies were found to have paid salaries/perquisites abroad to their foreign national employees working in India without obtaining the necessary permission from the Reseve Bank of India, which amounted to violation of Foreign Exchange Regulations Act.

The firms include Japan Airlines, Deutsche Bank, Nokia Telecommunications, Samsung Corporation, Hyundai Motors, Bank of Tokyo, Daewoo Motors, Fuji Bank and All Nippon Airways.

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