Both direct and indirect tax arrears increased by about 33% to Rs 3.9 lakh crore in 2010-11. Minister of State for Finance SS Palanimanickam, while replying to different questions in Rajya Sabha, informed that direct tax arrears worth Rs 3,33,077 crore were not realised, while it was Rs 56,889.62 crores in the case of indirect taxes.

In 2009-10, the tax arrears amounted to Rs 2,93,139.23 crore.

The minister said that arrears in income tax was Rs 1,96,761 crore, corporation tax (Rs 1,36,316 crore) and central excise was Rs 31,739.41 crore as on March 31, 2011.

Arrears due on tax defaulters who are not traceable stood at Rs 10,116 crore at the end of fiscal 2010-11.

The minister said that Rs 59,778 crore arrears were realised during 2010-11.

Targets for recovery of direct and indirect tax arrears are fixed on year to year basis, the minister said.

In case of indirect taxes the recovry target for the current fiscal is Rs 3,600 crore. For direct taxes, it has been fixed at Rs 16,954 crore for tax arrears as on March 31, 2011 and 30% of the tax demand to be raised during 2011-12.

More Under Income Tax

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

June 2021