Kruger van Wyk (63 not out) and Doug Bracewell (30 not out) carried on the good work after Taylor's dismissal, adding an unbeaten 82 runs for sixth wicket before bad light ended play 35 minutes early.
The 28-year-old Taylor had promised a positive approach at the Chinnaswamy Stadium after New Zealand lost 18 wickets to the Indian spinners in the first test in Hyderabad, which the hosts won by an innings and 115 runs to go 1-0 up in the two-test series.
New Zealand opted to bat first after Taylor won the toss and their intent was immediately clear as the batsmen attempted to put India on the back foot.
"Ross is a class player and some of the shots he played were really special," opener Martin Guptill, who started the fireworks with a quickfire 53, told reporters.
"We had a meeting on how to go about it and about the positive intent. We executed our plans really well today."
Taylor hit 16 boundaries and two sixes and attacked the bowlers from the onset to complete his seventh test century, and his third against India, off just 99 balls.
He slog-swept the spinners effectively, played the cut shot fiercely and added 107 runs with Daniel Flynn (33) for the fourth wicket at a breathtaking scoring rate.
Taylor and Flynn combined to add 72 runs off the first 10 overs after lunch before Flynn fell leg before to off-spinner Ravichandran Ashwin while attempting another sweep shot.
Pragyan Ojha kept India in the hunt by picking up his fourth wicket shortly after the tea break when Taylor was also out leg before trying to sweep the left-arm spinner.
In the morning, India captain Mahendra Singh Dhoni handed the new ball to Ojha to capitalise on New Zealand's spin frailty but it was paceman Zaheer Khan who struck the first blow in the second over of the innings.
Opener Brendon McCullum was the first to fall for a duck when Zaheer caught him plumb in front of the stumps in his first over.
Guptill, dropped on 17 by Virat Kohli in the slips off Zaheer, went on the attack and completed his half-century, helped by eight boundaries.
The right-hander mistimed a drive against Ojha to be caught at mid-wicket by Gautam Gambhir.
"We have to keep up the positive intent. If we put 400-450 on the board and attack them then it's going to put some pressure on India," Guptill added.
"There is a bit of swing and seam on this wicket and if we can pick up a few wickets early on, it'll be great."
Ojha then dismissed Kane Williamson (17) leg before and also got rid of all-rounder James Franklin (eight).
"It was a good first-day wicket and they were trying to be aggressive," Ojha said. "I think that was their game plan and Ross played quite well too.
"I think taking six wickets on this kind of a pitch was a good effort."