Companies pay half of their profits as taxes: survey

A survey was conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) and consulting firm PricewaterCoopers (PwC) India over companies paying the tax in India. The survey says that Indian companies contribute almost half of their profits as taxes to the government’s kitty, according to media report.

As per the survey the tax paid by the 41 Nifty companies is equal around 10% of the government’s tax receipt. Manufacturing sector companies are paying around 47 per cent of their profit as taxes to the government.

The contribution from the financial sector in around 40 per cent. While the rest amount have been paid by the companies other than the manufacturing and finance companies.