HDFC, Yes Bank pay higher advance tax for Q2, FY11

HDFC, Yes Bank pay higher advance tax for Q2, FY11

Mumbai: Home finance major HDFC has paid around 400 crore as advance tax for the second quarter of the 2010-11 financial year, vis-a-vis 320 crore in the year-ago period, a source said.

This translates into an increase of 20% in the amount of advance tax the lender paid this fiscal vis-a-vis FY10.

Meanwhile, private sector Yes Bank paid 81 per cent more advance tax in FY11, at 105 crore, as against 58 crore in the year-ago period, the bank said in a statement here today.

The higher advance tax paid by the two lenders in Q2, FY11, indicates that the sector is geared to give a healthy performance this fiscal.

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