Taxation boost

"In this world nothing can be said to be certain, except death and taxes," said Benjamin Franklin, one of the Founding Fathers of the United States. He was right. Taxes have not just stayed since then but have also become more pervasive. For most of us, they mean less money in hand. But there are some companies for which they have meant more profits or a reduction in losses. The table below lists companies which have received significant tax write-backs in the previous financial year. These write-backs are more than 25 per cent of their profits before taxes. Because of these tax credits, their profits have got a boost or their losses have significantly reduced. One should take into account the impact of the write-backs to form a proper picture of their performance. Existential crisis Company nameProfit before tax (Rs cr)Tax write-back (Rs cr)Profit after tax (Rs cr)Tax to PBT (%)Shipping Corporation29224254760.8Piramal Enterprises 196428764840146.5Aditya Birla Fashion4969118140.5State Bank of India-122458058-418765.8Bank of Maharashtra-32322120-111265.6DCW -4929-2058.8HDIL60359658.3Claris Lifesciences -3420-1458.2United Bank of India-29471492-145450.6IFCI -1720749-97243.5Alok Industries -53912321-307043Udaipur Cement Works -7330-4340.7Dena Bank-31791256-192339.5Corporation Bank-66752625-405039.3Lakshmi Vilas Bank -951366-58538.5Andhra Bank-54412047-339437.6Punjab National Bank-198467262-1258436.6Canara Bank-64082321-408736.2Central Bank Of India-78762780-509635.3IDBI Bank -124954338-815734.7Sanghvi Movers -8830-5734.6Idea Cellular -68222331-449134.2JK Lakshmi Cement 33114333.4Inox Wind -28093-18833.1Steel Authority of India -811245-56630.2Bank of India-86602587-607329.9Allahabad Bank-64521878-457429.1Rajapalayam Mills 1441827.8Gayatri Projects 2062627.6Syndicate Bank-42771165-311227.2Indian Overseas Bank-86322332-629927Data as on August 13, 2018. Market cap more than Rs 500 crore. Tax to PBT over 25%