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Top 10 highest direct tax-paying companies in India (FY 2024)

Highest Direct Tax-paying Companies: The highest tax-paying companies have accounted for nearly 19% of the government's provisional gross corporate tax collection, totalling Rs 2.2 lakh crore in 2024.

List of top tax-paying companies in India 2024-25: Enlisted below are India's top 10 companies which paid the highest direct tax in FY 2024. (Source: Canva)

List of top tax-paying companies in India 2024-25: India’s economy is forecast to grow at a steady rate of 6.7% in both FY26 and FY27, outpacing global growth of 2.7%, the World Bank January 2025 report stated.

According to the latest report from Burgundy Private Hurun India 500, the cumulative valuation of India’s most valuable companies has surged to approximately US$3.8 trillion (Rs 324 lakh crore), marking a significant 40% increase.

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Furthermore, these firms collectively recorded robust sales of US$1 trillion, contributing to a substantial 11% growth in revenue, which automatically translates into higher tax obligations, driving overall growth in corporate tax revenue.

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Notably, the companies have accounted for nearly 19% of the government’s provisional gross corporate tax collection, totalling Rs 2.2 lakh crore in 2024, and this impressive tax contribution is largely driven by record profits across three sectors dominating the list: financial services, software, and energy.

Hurun India: Top 10 highest direct tax-paying Indian companies in 2024

In 2024, the two most valuable companies in India, Reliance Industries and Tata Consultancy Services, stood out as the top direct tax contributors.

Reliance Industries led with a corporate tax payment of Rs 25,707 crore, while Tata Consultancy Services followed with Rs 15,898 crore.

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Notably, Vedanta recorded the most significant growth in corporate tax payments, with an impressive 122% increase this year; in contrast, HDFC Bank faced a decline, experiencing a 28% reduction in its corporate tax payments.

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Enlisted below are the 10 highest direct tax-paying companies in India, as of 2024:

Rank	Company	Corporate Tax (INR, Cr)	Main Industry
1	Reliance Industries	25,707	Energy
2	Tata Consultancy Services	15,898	Software & Services
3	Vedanta	12,826	Metals & Mining
4	HDFC Bank	11,122	Financial Services
5	Infosys	9,740	Software & Services
6	ITC	6,389	Consumer Goods
7	Kotak Mahindra Bank	5,887	Financial Services
8	HCL Technologies	5,257	Software & Services
9	Larsen & Toubro	4,947	Construction & Engineering
10	Bajaj Finance	4,858	Financial Services

Source: Hurun Research Institute, 2024 Burgundy Private Hurun India 500

Hurun India: Top 10 highest tax-paying corporate sectors in India, 2024

Below is a list of the top 10 corporate sectors contributing significantly to India’s corporate tax revenue in 2024, along with their highest tax-paying company.

Rank	Main Industry	Total Corporate Tax (INR, Cr)	Highest Corporate Tax Paying Company	Corporate Tax (INR, Cr)
1	Financial Services	40,939	HDFC Bank	11,122
2	Software & Services	38,198	Tata Consultancy Services	15,898
3	Energy	29,883	Reliance Industries	25,707
4	Metals & Mining	27,595	Vedanta	12,826
5	Healthcare	17,089	Glenmark Pharmaceuticals	1,867
6	Consumer Goods	10,101	ITC	6,389
7	Industrial Products	8,594	Jindal Saw	623
8	Telecommunications	7,403	Bharti Airtel	4,121
9	Construction Materials	7,157	Grasim Industries	3,774
10	Construction & Engineering	6,577	Larsen & Toubro	4,947

Source: Hurun Research Institute, 2024 Burgundy Private Hurun India 500

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Cherry Gupta

Cherry Gupta is an Assistant Manager – Content at The Indian Express. She leads the Top 10 section, curating list-based features on key national and international developments, and manages daily news content. She also produces SEO-driven articles and collaborates with the Lifestyle team to conduct interviews with notable artists and write workplace culture features. ... Read More

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