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June 25, 2001 		Feedback  
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India firms' Q1 taxes to cross Rs 50 billion

India's direct tax collections from companies are expected to be slightly over Rs 50 billion in the April-June quarter, a government official said on Monday.

"Tax collections have been fine so far. Collections totalled at least Rs 50 billion until the last working day," the official said.

"We expect the final picture by July 15," he said.

Indian companies make advance quarterly tax payments for the financial year to the government.

They pay 15 per cent of estimated taxes for the financial year in June, 30 per cent each at the end of the second and third quarters and 25 per cent in the last quarter ending March.

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