October 8, 2024

The term horticulture is derived from two Latin words Hortus, meaning ‘garden’, and Cultura meaning ‘cultivation’. It refers to crops cultivated in an enclosure, i.e., garden cultivation. It is the culture of plants for food, comfort, and beautification purposes. The plants focused on are mainly vegetables, trees, flowers, turf, shrubs, fruits and nuts. However, advancements in horticulture science and technology have helped the field of horticulture become more than just garden cultivation What Are Horticulture Crops? Horticulture, as defined in the world of gardening and farming, is the practice of scientifically producing, cultivating, selling, and using high-value, closely tended crops in an environmentally friendly and long-lasting way. Horticulture, a field of plant agriculture focused on garden crops like fruits, veggies, and decorative plants, gets its name from the Latin words for “garden” and “cultivate.” In simple terms, it involves various aspects of garden care, but typically, it’s associated with commercial farming. Horticulture falls somewhere between backyard gardening and large-scale agriculture, but all types of cultivation share common connections. Remember: Horticulture sets itself apart from agriculture by not dealing with extensive crop farming or raising animals. Instead, horticulture revolves around cultivating various crops on smaller plots, while agriculture centres on growing a single major crop at a time. Types Of Horticulture Pomology: Pomology is all about fruit and nut crops, while olericulture deals with kitchen herbs like carrots, asparagus, lettuce, cauliflower, tomatoes, and peas. Olericulture: Olericulture is the science of growing vegetables, focusing on non-woody edible plants like spinach and collards that fall into the group known as “potherbs and greens.” Floriculture: Floriculture specializes in producing flowers and decorative plants, such as cut flowers and potted plants. Landscape Horticulture: Landscape horticulture is a broad field that includes plants for landscaping, like lawn turf, as well as nursery crops like shrubs, trees, and vines. Arboriculture: Arboriculture is mainly about arborists looking after woody plants for the long term in places like gardens, parks, or populated areas, aiming to enhance the environment for people’s enjoyment, safety, and overall well-being. Turf Management: Turf management involves all the efforts put into growing and taking care of grass specifically for sports, entertainment, and beautification purposes. Viticulture: Viticulture is a specialised field within horticulture focused on growing and gathering grapes. This involves various tasks such as overseeing pest control, disease prevention, fertilisation, watering, tending to the vines’ growth, assessing fruit quality, deciding when to harvest, and pruning the vines in winter. Oenology: Oenology is a specific horticultural field that focuses on the study of wine and the art of making it. Post-harvest physiology: Post-harvest physiology is all about how plant tissues behave after they’ve been harvested. This helps in figuring out the best ways to keep the plants fresh and prevent them from going bad by finding the right storage and transport conditions. Importance Of Horticulture Horticulture has improved the financial well-being of farmers by boosting the average intake of fruits from 40 to 85 grams and vegetables from 95 to 175 grams per person in a year. The importance of horticulture lies in the fact that it has been instrumental in advancing women’s empowerment through job opportunities in activities like growing mushrooms, cultivating flowers, and producing vegetable seeds, among other things. Moreover, horticulture crops make up over 24.5% of agriculture’s GDP, despite occupying only 8.5% of the entire region. India’s fertile lands nurture a diverse range of fruits and veggies, both tropical and temperate. Across approximately 4 million hectares, you’ll find a cornucopia of over fifty vegetable varieties, with star crops like potatoes, onions, peas, cauliflower, tomatoes, eggplants, okra, cabbage, and cucurbits thriving in the mix. Horticultural science is a unique field that combines the study of plants with their aesthetics. Horticulture is practical; it helps enhance plant growth, marketing, and overall quality of life for both people and animals. It plays a consistent role as the best-managed farmland practice by delivering nutritious produce, adding beauty to our surroundings, and promoting recreational activities. FAQs What are horticulture crops in India? India’s varied climate provides the perfect conditions for cultivating a wide variety of horticultural products, including fruits, vegetables, spices, root tubers, ornamental and aromatic plants, medicinal herbs, as well as plantation crops like coconut, arecanut, cashew, and cocoa. What is India’s rank in horticulture? India comes in as the world’s second-largest producer of fruits and vegetables, following China. According to the National Horticulture Database’s latest data (3rd Advance Estimates) from 2021-22, India managed to yield an impressive 107.24 million metric tonnes of fruits and a whopping 204.84 million metric tonnes of vegetables.

Cardless Cash Withdrawal is a secure and convenient way to withdraw cash from an Automated Teller Machine (ATM) without any debit or credit cards. Cardless Cash Transactions allow you to transfer money between different bank accounts without needing a physical card. What is Cardless Cash Withdrawal? Cardless cash withdrawal is a convenient banking feature that allows you to withdraw cash from an ATM without using a physical debit card. It provides an alternative method for accessing your funds securely and conveniently. There are different ways to perform cardless cash withdrawals, depending on the bank and the specific technology used. Purposes of YONO To enable cardless transactions at ATM locations is YONO’s main objective.  to persuade users to use a digital transaction platform  Get rid of any dangers that might come with ATM withdrawals  When an ATM card isn’t available, this method saves time and serves as a primary source of funding in emergencies. It also lowers the chance that fraudulent activities like card skimming and copying will occur. Features of YONO Any savings account holder can withdraw cash at the ATMs of the bank without using a debit card It is a digital banking platform for SBI customers and can be used on smartphones to make transactions and payments The cashless withdrawal service is available across 16,500 SBI ATMs across the country It is also possible to perform banking transactions like opening Fixed Deposit, applying for credit cards, insurance, investments and loans Provides option to purchase products through other e-commerce web portals Increase investments and manage funds from other SBI accounts Provision to book air, train and bus tickets Aspects of YONO Anyone with a savings account can make cash withdrawals at the bank’s ATMs without needing a debit card.  It is a mobile payment and transaction platform for SBI customers.  16,500 SBI ATMs nationwide offer the cashless withdrawal service.  Additionally, it is possible to carry out banking operations like opening Fixed Deposits, trying to apply for Credit Cards, Insurance, Investments, and Loans.  offers the choice to buy products via other e-commerce websites  Boost investments and take control of money from those other SBI accounts  the ability to purchase tickets for buses, trains, and aeroplanes How to Use a Phone and an ATM to Withdraw Money without a Debit Card Step 1: Open the Yono app and sign in using your bank’s login information. Step 2: Create a 6-digit MPIN for upcoming logins. Step 3: Select Yono cash from the list of ATM locations to withdraw money without an ATM card. Step 4: Select the ATM tab and enter the desired withdrawal amount. The minimum and maximum withdrawal amounts per transaction are respectively ₹500 and ₹10,000. Step 5: The enrolled mobile number will receive a cash transaction number. At Yono Cash points (ATMs that support cardless transactions), you can withdraw money using the involved in the process and PIN. Step 6: At the Yono cash point, select the Card less transaction option and enter the information. Account holders have the option to use the app to find nearby ATMs that support card-less transactions. Steps to be followed in YONO app To log in to the YONO app, you can use your internet banking user ID and password or MPIN. Once logged in, select the YONO Cash option from the Home page or the YONO Pay option on the Home screen or Hamburger Menu. Then, navigate to the “New Request” tab on the YONO Cash landing page and click on the ATM option. Next, choose the account from which you wish to withdraw money and enter the desired amount. Proceed by creating a YONO Cash PIN specific to this transaction. Note that the PIN will only be shown on the screen during creation and will not be shared through any channel or on the enquiry page. After reviewing the transaction details, accept the Terms and Conditions, and confirm the transaction. Upon successful completion, you will receive a message indicating the same. You can also check the nearest YONO Cash Points available. Your request will be registered on YONO, and the Transaction Reference Number will be sent to your registered mobile number via SMS. FAQs Can I withdraw money from SBI ATM without card? Yes, you can withdraw money from an SBI ATM without a card using the Yono app. You can generate a reference number and create a dynamic PIN for the cash withdrawal through the Yono app. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from the ATM How to do cardless withdrawal? To do a cardless withdrawal, you can use the Yono app. You need to log in to the Yono app, generate a reference number and create a dynamic PIN for the cash withdrawal. Then, you can use this reference number and PIN to complete the transaction and withdraw cash from an SBI ATM

An NGO is a non-government organization with a charitable objective, for the betterment of the society in general. It can be started as a Trust, a Society or a Non-Profit Company [Section 8 Company], depending on the activity you wish to undertake. In India, NGO is an umbrella term for all non-profit organizations including Trust, Society and Section 8 Company. Other names for such not-for-profit organizations are “Sangathan”, “Sangh”, “Sangam”. Income tax exemption is available for all non-profit NGOs. These are sometimes confused with non-profitable companies, which refers to a regular business is not making a profit. NGO registration is a profit that enables Nonprofit organisations to provide services to the public, often with the support of the government, corporations, individuals, or groups. It’s crucial for NGOs to comply with policy while serving the majority as a nongovernmental organisation. An NGO is a non-governmental organisation that works to improve society at large through philanthropic endeavours. Depending on the activity you want to pursue, you can start it as a Trust, a Society, or a Non-Profit Company [Section 8 Company]. What are the Types of NGO Registration in India? Trust Trust registration refers to the process of legally establishing a trust in India. A trust is a form of non-profit organisation (NPO) that is created to provide assistance and support to specific causes, such as education, health care, and community development. The trust registration process is governed by the Indian Trusts Act, 1882, and is typically handled by a team of legal experts and professionals. Society Society registration refers to the process of forming a society under the Societies Registration Act, 1860. A society is a group of individuals who come together to achieve a common goal or objective. Societies are formed to promote charitable, religious, educational, scientific, literary, or social causes. Section 8 Company Section 8 Company is a type of non-profit organisation that is registered under Section 8 of the Companies Act, 2013. It is registered with the sole purpose of promoting commerce, art, science, religion, charity or any other useful object, and not for the purpose of making a profit. This type of company is also known as a Non-Profit Organisation or Non-Governmental Organisation (NGO). Difference Between – Trust, Society & Section 8 Company Criteria Trust Society Section 8 Company Legal Framework Indian Trust Act of 1882 Societies Registration Act , 1860 Companies Act, 2013 Main Objective Charitable activities Public welfare activities Promotion of science, arts, sports, etc. Membership Trustees Members Shareholders Governing Body Board of Trustees Governing Council Board of Directors Governing Rules Trust Deed Memorandum and By-laws Memorandum and Articles of Association Registration Registrar of Trusts in local jurisdiction Registrar of Societies in the state Registrar of Companies (ROC) Tax Exemption Section 12A and 80G of the Income Tax Act, 1961 Section 12A and 80G of the Income Tax Act, 1961 Section 8(1) and 12A of the Income Tax Act, 1961 Benefits of NGO Registration Legal Status -A registered NGO gains the legal status and becomes accountable for the funds received. For instance, when an individual donates funds to a charitable trust, it is received under the name of the organization and used for the trust’s activities. Tax Exemption- The registration of an NGO is necessary to seek tax exemption from the Income Tax Authority. Bank Support- The basic requirement for running an NGO is to have a bank account under its name. In order to open an account, it is mandatory to be registered as a Trust, Society or Section 8 Company. Recognition – An organization that is registered as an NGO reinforces the ethical, social and legal norms of our society. Need for NGO Registration NGO Registration done if you are willing to establish a non-profit organization and work with an objective towards the betterment or advancement of any particular section of the society. Getting NGO Registration provides legal authority to the entity and makes it more credible in the eyes of the law and contributors. Eligibile to Start an NGO If an NGO is to be incorporated as a private limited company, there must be a minimum of two directors. In the case of incorporation as a public limited company, a minimum of three directors are necessary. 200 members is the maximum allowed for a private limited business. For a public limited company, there is no member limit. NGO Registration Procedure Step 1: Determine the Type of NGO: Choose the appropriate type of NGO structure, such as a trust, society, or section 8 company, based on the organization’s objectives and activities. Step 2: Select a Unique Name: Select a distinctive name for the NGO that represents its mission and purpose and is not similar to any existing registered entities. Step 3: Prepare the Memorandum of Association (MoA) and Articles of Association (AoA): Draft the MoA and AoA, which outline the objectives, rules, and regulations governing the NGO’s operations and management. Step 4: Formulate the Governing Body: Establish a governing body or managing committee comprising individuals who will oversee the NGO’s functioning and decision-making processes. Step 5: Provide a Registered Office Address: Designate a registered office address for the NGO, where official communications and legal documents can be sent. Step 6: Prepare the Required Documentation: Gather the necessary documents, including identity proofs, address proofs, and photographs of the governing body members. Step 7: File the Registration Application: Submit the registration application, along with the required documents, to the appropriate authority such as the Registrar of Societies, Registrar of Trusts, or Registrar of Companies, depending on the chosen NGO structure. Step 8: Review and Approval: The registration authority will review the application and supporting documents. They may seek additional information or clarification, if necessary. Step 9: Obtain the Registration Certificate: Upon successful review and approval, the registration authority will issue a registration certificate, confirming the legal status of the NGO. Step 10: Apply for Tax Exemptions: After obtaining the registration certificate, apply for tax exemptions under the Income Tax Act by obtaining certifications such as 12A and 80G. Step 11: Ensure Compliance and Reporting: Adhere to ongoing statutory

The allowance is paid to an employee to compensate for the travel they have to undertake from their residence to the workplace. The amount payable as an allowance depends on how far an employee has to travel, and the modes of transportation used. The greater the distance that has to be covered by the employee, the higher the amount payable as conveyance allowance. It must be borne in mind that some organisations arrange for their own transportation facilities that take their employees to and from their workplace and residence. Such organisations do not pay any extra allowance for conveyance. What is Conveyance Allowance? Conveyance Allowance, also called Transport Allowance is a type of allowance offered to employees of a company to compensate for their travel from residence to and from respective workplace location. Allowances are generally offered to employees on top of their basic salary component and may or may not be taxable as per the Income Tax Act. In general, conveyance allowance is paid by an employer only if there is no transportation provided by the employer. In case an employer offers office transport, conveyance allowance will not be provided to employees. Conveyance Allowance Exemption Beyond a specified threshold, this allowance is taxable. These limits are governed by rules set down under Section 10(14) (ii) of the Income Tax Act of 1961 plus Rule 2BB of extant IT rules. Before 2015, the maximum amount that would not draw any tax was set at Rs. 800 each month or Rs. 9,600 a year. After April 2015, the Union Government raised the ceiling for such allowances starting from FY 2015-16. This was declared in the 2015 Union Budget and later passed as a law by both Houses of the Parliament. The current conveyance allowance exemption is Rs. 1,600 each month or Rs. 19,200 a year. As is obvious, it is double the previous limits set. The revised rate of this allowance was introduced to alleviate the tax load borne by huge sections of salaried, middle-class Indians each year. It must be noted that an employee does not need to provide any documents, receipts, pay-slips or any other proof that she/he has received conveyance allowance from employers. The IT Department will automatically consider the Rs. 1,600 limit each month- or Rs. 19,200 every year- when calculating tax liabilities for salaried individuals. Conveyance Allowance Exemption Limit for AY 2023-24 There is no limit on the amount of conveyance allowance a company can offer to its employees. However, there is a limit on the amount of exemption under the Income Tax Act as detailed below: Conveyance allowance is given an exemption of up to Rs.19,200 per annum or Rs.1,600 per month. The sections under which this exemption is applicable are Section 10(14)(ii) of Income Tax Act and Rule 2BB of Income Tax Rules. Before April 2015, the conveyance allowance taxation exemption limit was capped at Rs.800 per month or Rs.9,600 per annum. The exemption limits were extended to Rs.1,600 per months or Rs.19,200 per year in Budget 2015 with an eye to provide tax benefits to the middle class taxpayers in the country. You do not need to furnish any documents or proof of receiving conveyance allowance from your employer. The full amount of Rs.1,600 per month can be claimed as tax exemption under travel or conveyance allowance.  Special Exemptions and Provisions There are provisions in place which grant a higher level of exemption to certain individuals. The categories include the following – Employees who are visually impaired or otherwise physically handicapped, conveyance allowance deduction is set at Rs. 3,200 each month. This relief is applicable regardless of whether the organisation is operated privately or publicly. Under Section10 (45) of the Income Tax Act, no UPSC member is liable to pay tax on conveyance allowance. Travel Allowances on Central Government Employees In mid-2017, the Ministry of Finance released a revised list of allowances and grants for Central Government employees. This was linked directly to the implementation of the 7th Pay Commission or 7 CPC. While there are still some persisting issues regarding the 7 CPC, especially in the Armed Forces, HRA and travel allowance levels for all Central employees were modified. However, many states still pay their employees under the provisions of the 6th Pay Commission. Thus, there is some difference between conveyance allowance provisions between Central cadre and State cadres. Uttar Pradesh was one of the first states to implement and restructure all emoluments under the 7 CPC. Given below are the latest allowances for Central Government employees. Average distance covered each month when on duty Allowance for using personal conveyance like cars Allowance for all other travel modes 201 to 300 km Rs. 1,680 Rs. 556 301 to 450 km Rs. 2,520 Rs. 720 451 to 600 km Rs. 2,980 Rs. 960 601 to 800 km Rs. 3,646 Rs. 1126 Any distance greater than 800 km Rs. 4,500 Rs. 1276 For Government employees who have to travel extensively, there is also a provision of a consolidated travelling allowance. Unlike other forms of this grant, a consolidated amount can be drawn around the year How to Calculate Conveyance Allowance? There are no complicated calculations involved in calculating conveyance allowance limit. The limits are absolute at Rs.1,600 per month or Rs.19,200 per year irrespective of the tax bracket an individual falls into. A point to note here is that the exemption for conveyance allowance can be grouped with some other allowances, for instance Special Allowance. So, if your employer is offering you a Special Allowance of Rs.5,000 per month which is fully taxable, you can substitute Rs.1,600 as conveyance allowance and claim tax exemptions for the same FAQs How much exemption can I claim on conveyance allowance? Exemption on conveyance allowance can be claimed under Section 10(14(ii)) of the Income Tax Act. The maximum amount that can be claimed in a year is Rs.19,200 (Rs.1,600 per month). Are there any special cases where exemption limits can be higher? Individuals who are blind or orthopedically handicapped can claim an exemption of Rs.3,200 per month as opposed to the regular

Voluntary Provident Fund (VPF) is a voluntary fund contribution from the employee towards his Provident Fund account. This contribution is beyond the EPF contribution. It is not a compulsory investment but is usually opted for by individuals to secure the retirement phase. The maximum contribution in VPF is up to 100% of the basic salary and dearness allowance. Note that the interest earned on VPF is at the same rate as the EPF. What is Voluntary Provident Fund? Voluntary Provident Fund (VPF) aka Voluntary Retirement Fund is a voluntary fund contribution from the employee towards his Provident Fund (PF) account. This contribution is beyond the 12% of contribution by an employee towards his EPF. The maximum contribution is up to 100% of Basic Salary and Dearness Allowance. Interest is earned at the same rate as the EPF. Employers are under no obligation to contribute to their employees’ VPF portfolio. Likewise, an employee is also under no obligation to contribute to the VPF. Once the contribution is chosen in VPF, the same cannot be terminated or discontinued before the base tenure of 5 years is completed.  Features of Voluntary Provident Fund enure Up to resignation/retirement Interest rate 8.15% Investment Amount The amount depends on the employee Maturity Amount The amount depends on the investment   Eligibility Criteria Individuals who are employed in the organised sector of the economy are eligible for a Voluntary Provident Fund. Moreover, EPF is only mandatory for organisations that employ more than 20 individuals. Therefore, one must work in an EPF-recognised organisation to have a Voluntary Provident Fund.  Organisations with less than 20 employees might also choose to open an EPF account for their employees. However, that depends on the employer and not the employee. If such an employer chooses to open EPF accounts for their employees, only then can such employees create a VPF.  Maturity Period The minimum lock-in period for a Voluntary Provident Fund is 5 years. Moreover, since a VPF is maintained through an EPF account, an individual can withdraw such amount upon retirement, unemployment for more than 2 months, or to defray the following expenses –  Repayment of loan Purchasing or constructing a residential property Education of child Marriage of self or someone dependent Medical reasons Nevertheless, the minimum threshold to avail of all VPF tax benefits is 5 years. If an individual chooses to withdraw before 5 years of lock-in, then he/she might lose out on exemptions.  How to Open a VPF Account To open a Voluntary Provident Fund account, an employee should connect with his employer or the HR team of the company in writing, stating his/her objective to open a VPF account. He should duly mention deducting an additional amount from the salary for contribution to this fund. He should also specify the monthly contribution amount he wishes to invest. Note that an employee can open a VPF account at any time of the year, however, he/she cannot discontinue the investment under this scheme during the financial year. How to Check VPF Balance Go to the official website of EPFO. Click on ‘Our Services’ and select ‘For Employees’.  Choose ‘Member Passbook’ under ‘Services’.  Fill in the UAN and password and click on ‘Login’. Select the Member ID and click on ‘View Passbook’. You can find all the details in the EPF passbook regarding your account. FAQs What is the distinction between VPF and EPF? The VPF is an extension of the EPF. In order to open an EPF account, a person must contribute a minimum of 12% of his Basic Salary and Dearness Allowance to the fund. It is a voluntary contribution with a maximum ceiling of 100% in a VPF. If I change jobs, will my VPF account be affected? Your Aadhar Card is linked to your VPF account. As a result, moving your account from one employer to another is very simple.

Cheque Truncation is a process in which the physical movement of a cheque issued by the drawer at the presenting bank is stopped before it reaches the paying bank branch. This system means instead of moving the physical form of cheque, now one bank can send the scanned image of the cheque in electronic form to another bank. This process of cheque truncation system can help to reduce the financial burden on banks and that money and resources can be applied to complete more useful tasks. Cheque Truncation System (CTS) is an digital, scanned image-based cheque-clearing system which captures cheque images and Magnetic Ink Character Recognition (MICR) data at the collecting bank branch and then sends them electronically. It completely eliminates the need for physical movement of cheques. Introduction A cheque truncation system promotes the processing of a cheque electronically through the Magnetic Ink Character Reader (MICR) data and a scanned image. The physical cheque is not required. Benefits of Cheque Truncation System (CTS) Speed of Realization: Cheque Truncation System (CTS) enables the realization of cheque proceeds on the same day which creates customer satisfaction and streamline the payment process, enhancing efficiency of banks. Data Management: Cheque Truncation System (CTS) helps to facilitate easy storage and retrieval of cheque data. It helps in better data management and use of collected information in an efficient manner.  Risk Minimization: Cheque Truncation System (CTS) reduces risks as it introduces a secure cheque-clearing system. Cost Efficiency: Cheque Truncation System (CTS) is very cost efficient as it reduces costs associated with the physical movement of cheques.  Processing Mechanism: Cheque Truncation System (CTS) minimizes the excessive delays between cheque presentation and realization and thus streamlines the process. Shorter Clearing Cycles: Cheque Truncation System (CTS) offers shorter clearing cycles as there is a centralized image archival system in it.  Continuous Clearing: Cheque Truncation System (CTS) is trying to incorporate additional features so that it can clear cheques in a much shorter period of time. About Reserve Bank of India (RBI) The Reserve Bank of India (RBI) is the topmost body in the Indian financial system. It is the central authority for banking and is concerned with printing currency notes and framing monetary policy. The Reserve Bank of India was established on April 1, 1935, under the Reserve Bank of India Act, 1934. Its basic role is to regulate the issuance and supply of the currency of India i.e Indian Rupee (INR) apart from monitoring the working of the entire banking system in India. The most important task of RBI is dealing with ‘Kinds of Bills’ like Treasury Bills, Commercial Bills, etc. besides other negotiable instruments. Knowing these different types of bills is quite important, as they form the bedrock for the financial and monetary policies of the Reserve Bank of India. FAQs What is Cheque? A cheque is a financial instrument that directs a bank to pay a specific sum of money to the bearer or to the person or entity named on the cheque. What are different types of Cheques? Bearer Cheque, Order Cheque, Crossed Cheque, Post Dated Cheque, Stale Cheque etc

Taxes implemented on a company or individual can be of different types based on their income and deductions. In India, TCS stands out as the highest corporate taxpayer, while Akshay Kumar and Mahendra Singh Dhoni have been the highest tax-paying individuals.  In India, individuals and businesses are liable to pay direct taxes based on their income. Several factors influence tax computation, including costs, tax type, deductions, income and exemptions. Irrespective of the income that an entity earns, they have to pay taxes as per the applicable tax rates. Highest Taxpayer State in India Maharashtra tops the chart of the highest tax-paying states in India. Since the Financial year 2019-20, the Income Tax Department of India has collected the highest tax from Maharashtra. The government collected Rs.5,24,498 crore direct tax from Maharashtra in the previous fiscal year. It is followed by Uttar Pradesh and Gujarat.  Highest Taxpayer Company in India The highest-tax-paying company in India presently is Tata Consultancy Services (TCS). It is the largest company from Tata Group and the second-biggest organisation in India. TCS offers various technical services, including software services, IT services, cyber security platforms, and more. In the last fiscal year, TCS paid Rs.11,536 crore in taxes, accounting for 6.8% of its total revenue. Highest Individual Taxpayer in India in 2024 Rank Name Total Tax Paid (INR Crore) 1 Shah Rukh Khan ₹92 crore 2 Thalapathy Vijay ₹80 crore 3 Salman Khan ₹75 crore 4 Amitabh Bachchan ₹71 crore 5 Virat Kohli ₹66 crore 6 Ajay Devgn ₹42 crore 7 MS Dhoni ₹38 crore 8 Ranbir Kapoor ₹36 crore 9 Sachin Tendulkar ₹28 crore 10 Hrithik Roshan ₹28 crore Highest Taxpayers in India Reliance Industries Reliance Industries Limited  (RIL) is a Fortune 500 company and India’s largest private sector corporation. RIL paid the highest tax with a sum of Rs.20,713 crore in taxes during the financial year 2022-23. State Bank of India State Bank of India (SBI), a Fortune 500 company, is an Indian Multinational, Public Sector Banking and Financial services statutory body headquartered in Mumbai. SBI paid a total sum of Rs.17,649 crore in taxes during the financial year 2022-23. HDFC Bank The Housing Development Finance Corporation Limited or HDFC Ltd, was among the first financial institutions in India to receive an “in principle” approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. The bank paid Rs.15,350 crore in taxes during the financial year 2022-23. Tata Consulting Services Tata Consultancy Services (TCS) is an IT services, consulting, and business solutions organization partnering with many of the world’s largest businesses for the past 50 years. TCS paid the Indian government Rs.14,604 crore in tax. ICICI Bank ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. The bank paid Rs.11,793 crore to the Indian Government as tax.  ONGC Oil and Natural Gas Corporation (ONGC) was founded on 14 August 1956 by the Government of India. It is the largest government-owned oil and gas explorer and producer in the country. ONGC paid a total sum of Rs.10,273 crore in taxes during the financial year 2022-23. Tata Steel Tata Steel was established in India as Asia’s first integrated private steel company in 1907. The company was developed in India’s first industrial city, Jamshedpur. Tata Steel paid Rs.10,160 crore in taxes during the financial year 2022-23. Coal India Coal India Limited (CIL), the state-owned coal mining corporation came into being in November 1975. With a modest production of 79 Million Tonnes (MTs) at the year of its inception, CIL today is the single largest coal producer in the world. Coal India paid Rs.9,876 crore in taxes during the financial year 2022-23. Infosys Established in 1981, Infosys is a NYSE-listed global consulting and IT services company with over 336k employees. The company paid Rs.9,214 crore to the Indian Government as tax.  Axis Bank Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of financial services to customer segments covering Large and Mid-Corporates, MSME, Agriculture and Retail Businesses. The bank paid Rs.7,703 crore  FAQs Is Surcharge applicable under the new tax regime? Yes.The highest surcharge of 37% is reduced to 25% under the new regime. Which profession is the highest taxpayer in India? In India, the highest taxpayer is Akshay Kumar, an Actor and Film Producer. He belongs to the Media and Entertainment industry.