Govt can't Realise Rs 1.65 lac crore Tax


New Delhi, Dec 17 (PTI): In a startling revelation, official auditor CAG on Friday said the government has a huge tax demand of Rs 1.96 lakh crore, of which 84 per cent cannot be realised due to various reasons like death, insolvency and liquidation of company.

"Out of Rs 1.96 lakh crore, the arrear demand reported by DIT (Department of Income Tax) Recovery, a major portion, that is, 84.3 per cent amounting to Rs 1.65 lakh crore was categorised as unrealisable demand by the Department," said the report tabled in Parliament.

According to a report of the Comptroller and Auditor General (CAG) of India, even the huge tax arrears pending against Pune-based stud farm owner Hassan Ali Khan, his associate Chandrika Tapuriah, and late stock broker Harshad Mehta cannot be realised.

The three account for about 75 per cent of the total tax demands of Rs 1.16 lakh crore pending against individuals.

"Hassan Ali Khan (Rs 50,345.73 crore), Chandrika Tapuriah (Rs 20,540.83 crore) and Harshad Mehta (Rs 15,944.38 crore) accounted for 74.57 per cent of the total tax demands pending against individuals," the CAG report said.

It pointed out that 12 individuals account for 90 per cent of the pending tax demand of Rs 1.16 lakh crore in individual cases. Of these, Hassan Ali account for 43 per cent.

The report further said that Rs 65,816.58 crore of tax arrears is pending against corporate assessees.

In case of corporates, 28 companies account for 37 per cent of the total tax arrears.

  

Top Stories


Leave a Comment

Title: Govt can't Realise Rs 1.65 lac crore Tax



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.