Service Tax : Delhi High Court come down heavily on Revenue against high handedness in arresting tax payers or their employees without proper ad...
Goods and Services Tax : Question. The dealer has purchased plant along with land from Financial Institution in auction. The original owner of plant was de...
Income Tax : The CAG has pulled up the Income Tax Department for not recovering tax arrears worth over Rs 4,500 crore from various entities due...
Income Tax : 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 Pala...
Income Tax : The total income tax arrears in the country stood at Rs 2,48,927 crore on April 1, 2010, and the Central Board of Direct Taxes (CB...
Income Tax : The government today said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago p...
Income Tax : Income-tax arrears against assessees — of Rs 2,01,276 crore as on March 31, 2009 — have once again become an issue, as Parliam...
Delhi High Court come down heavily on Revenue against high handedness in arresting tax payers or their employees without proper adjudication
The CAG has pulled up the Income Tax Department for not recovering tax arrears worth over Rs 4,500 crore from various entities due to a lack of coordination between two of its wings. The government auditor, in its latest report tabled in Parliament, said it found several cases where the Assessing Officers (AOs) did not communicate updated information relating to demands to Tax Recovery Officers (TROs).
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.
The total income tax arrears in the country stood at Rs 2,48,927 crore on April 1, 2010, and the Central Board of Direct Taxes (CBDT) is tasked to monitor all outstanding dues of above Rs 10 crore, Parliament was informed on Tuesday. In a written reply in the Rajya Sabha, Minister of State for Finance S S Palanimanickam said the total outstanding arrears which stood at Rs 2,13,646 crore as on April 1, 2009, further increased to Rs 2,48,927 crore at the start of the current fiscal.
The government today said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period. The direct tax arrears grew over 16 per cent to Rs 2.48 lakh crore as on March 31, 2010 compared to Rs 2.13 lakh crore at the end of 2008-09, Minister of State for Finance S S Palanimanickam said in a written reply to Rajya Sabha.
Question. The dealer has purchased plant along with land from Financial Institution in auction. The original owner of plant was declared sick unit and was liable to discharge sales tax dues for past years. The Sales Tax Department is contemplating to recover the said dues from the dealer who has purchased the plant and land in auction. Whether the department is justified in such demand?
Income-tax arrears against assessees — of Rs 2,01,276 crore as on March 31, 2009 — have once again become an issue, as Parliament’s standing committee on finance has asked the Department of Revenue and the Central Board of Direct Taxes (CBDT) to put in place a Management Information System (MIS) within three months for collating and retrieving data concerning appeals, pendency disposal and recovery.
The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government’s budget deficit for the current financial year. But, surprisingly, the government has said that it can only recover Rs 13,000 crore, about 6.5% of the total outstanding, from corporates and individuals on whom the tax is pending.
