RIL pays Rs8.5 bn Oct-Dec advance tax

RIL pays Rs8.5 bn Oct-Dec advance tax

Mumbai: Energy major Reliance Industries Ltd (RIL) has paid Rs8.5 billion ($396 million) as advance tax for the October-December quarter, income tax department sources said on Tuesday.

The firm had paid an advance tax of Rs4.5 billion a year ago, the sources said.

Second-largest private lender, HDFC Bank paid Rs4 billion, compared with Rs3 billion a year ago, the sources, who did not wish to be named, added.

Indian regulations require a certain percentage of tax payable for the fiscal year to be paid in advance in each quarter.

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