- Financial services, software, energy dominated India’s corporate tax collections.
Corporate tax remains one of the biggest sources of government revenue, with India’s largest listed companies accounting for a sizeable share of these collections. Businesses spanning energy, information technology, banking, manufacturing and consumer goods continue to dominate the list of the country’s biggest corporate taxpayers.
According to the 2024 Burgundy Private Hurun India 500 report by the Hurun Research Institute, Reliance Industries emerged as India’s highest corporate tax-paying company for FY2024-25. The ranking is based on corporate tax paid by companies and highlights the sectors that contributed the most to the exchequer.
Top 10 Highest Tax-Paying Companies In India
Reliance Industries topped the list after paying Rs 25,707 crore in corporate tax during FY2024-25. The conglomerate, which has interests across energy, petrochemicals, retail and telecommunications, was followed by IT services giant Tata Consultancy Services (TCS), which paid Rs 15,898 crore.
Mining major Vedanta occupied the third spot with a corporate tax payment of Rs 12,826 crore, while HDFC Bank ranked fourth after contributing Rs 11,122 crore.
Infosys completed the top five with corporate taxes of Rs 9,740 crore.
The remaining companies in the top 10 were ITC (Rs 6,389 crore), Kotak Mahindra Bank (Rs 5,887 crore), HCL Technologies (Rs 5,257 crore), Larsen & Toubro (Rs 4,947 crore) and Bajaj Finance (Rs 4,858 crore).
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| Rank | Company | Corporate Tax (Rs crore) |
|---|---|---|
| 1 | Reliance Industries | 25,707 |
| 2 | Tata Consultancy Services (TCS) | 15,898 |
| 3 | Vedanta | 12,826 |
| 4 | HDFC Bank | 11,122 |
| 5 | Infosys | 9,740 |
| 6 | ITC | 6,389 |
| 7 | Kotak Mahindra Bank | 5,887 |
| 8 | HCL Technologies | 5,257 |
| 9 | Larsen & Toubro (L&T) | 4,947 |
| 10 | Bajaj Finance | 4,858 |
Source: Hurun Research Institute, 2024 Burgundy Private Hurun India 500.
Banking, IT And Energy Dominate Corporate Tax Collections
The Hurun report also shows that financial services accounted for the highest aggregate corporate tax contribution among industries at Rs 40,939 crore.
The software and services sector followed with Rs 38,198 crore, underlining the contribution of companies such as TCS, Infosys and HCL Technologies. The energy sector ranked third with total corporate taxes of Rs 29,883 crore, largely driven by Reliance Industries.
The remaining sectors in the top 10 were Metals & Mining (Rs 27,595 crore), Healthcare (Rs 17,089 crore), Consumer Goods (Rs 10,101 crore), Industrial Products (Rs 8,594 crore), Telecommunications (Rs 7,403 crore), Construction Materials (Rs 7,157 crore) and Construction & Engineering (Rs 6,577 crore).
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