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, contributing ₹25,707 crore in corporate taxes. The conglomerate, which has interests across energy, petrochemicals, retail and telecommunications, was followed by Tata Consultancy Services (TCS), which paid ₹15,898 crore. Vedanta occupied the third spot with a corporate tax payment of ₹12,826 crore, while HDFC Bank ranked fourth after contributing ₹11,122 crore. Infosys completed the top five with corporate taxes of ₹9,740 crore.
The remaining companies in the top 10 were ITC (₹6,389 crore), Kotak Mahindra Bank (₹5,887 crore), HCL Technologies (₹5,257 crore), Larsen & Toubro (₹4,947 crore) and Bajaj Finance (₹4,858 crore). As reported by the Hurun Research Institute, the ranking is based on corporate tax paid by companies and highlights the sectors that contributed the most to the exchequer. 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.
According to the Hurun report, financial services accounted for the highest aggregate corporate tax contribution among industries at ₹40,939 crore. The software and services sector followed with ₹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 ₹29,883 crore, largely driven by Reliance Industries. The remaining sectors in the top 10 were Metals & Mining (₹27,595 crore), Healthcare (₹17,089 crore), Consumer Goods (₹10,101 crore), Industrial Products (₹8,594 crore), Telecommunications (₹7,403 crore), Construction Materials (₹7,157 crore) and Construction & Engineering (₹6,577 crore).
