Jayant Sinha: Government Owes Tax Arrears Worth Rs 2.14 Lakh Crore From 17 Individuals

The Logical Indian

August 2nd, 2016 / 3:36 PM

Source: NDTV | Image Courtesy: assets.bwbx.ioibtimes

Individuals owe massive amount of money
A written reply to Rajya Sabha questions from Minister of State for Finance Jayant Sinha has revealed that in India, 17 individuals have whopping outstanding tax arrears worth Rs 2.14 lakh crore with each of them owing more than Rs 1,000 crore. The parliament has been informed that this amount is more than double the amount of total tax dues worth Rs 90,568 crore outstanding against 35 companies in this category.


8 lakh crore and counting
These individuals and the companies together hold direct tax arrears (including the demand not fallen due) worth Rs 827,680 crore, as on April 1, 2015. The number of taxpayers who owe over Rs 10 crore to the government rose by 69% to 4,692 in three years. The number in 2012-13 and 2013-14 were at 2,777 and 2,367, respectively.

Jayant Sinha has said that a large amount of this outstanding tax arrears may not be collected due to various reasons as the demand has been raised in March 2015 and has not fallen due or the demand may have become difficult to recover. Rs 36,593 crore was collected from the arrears demand in 2014-15.


The way forward
The Logical Indian thanks the government for making these numbers public. We request the government go on a war footing to recover the tax money which individuals owe to the government.

 


Contributors

Edited by :

Share your thoughts..

Related Stories

Government Owes Air India

Indian Government Owes Air India Rs 1146.86 Crore For Chartered Flights: RTI Query

Oil Bonds UPA Govt

PPAC Confirms That The Modi Government Repaid Oil Bonds Worth Only ₹3500 Crore

Delhi Airport Carpet

Delhi Airport To Get Rid Of “Smelly” Brown Carpet After Passenger Tweets To Jayant Sinha

Union Minister Jayant Sinha Garlands Eight Convicted Of Lynching

Government Owes Rs 325 Crore To Cash Strapped Air India With Bills Pending For VVIP Chartered Flights

Sasikala

Income Tax Raids Against Sasikala & Kin Reveals Rs 1430 Crore Worth Benami Wealth

Latest on The Logical Indian

News

Statue Of Unity: Tribals Lock Engineer Office In Protest For Jobs And Rehabilitation Facilities

News

Udupi: Krishna Temple Bans ‘Ede Snana’, The Practice Of Rolling Over Food Offered To Deity

Awareness

“They Have Turned Village Into Coal Dumping Yard” Jharkhand Villagers Accuse NTPC Of Forcibly Acquiring Land

News

After Six Years Of Imprisonment In Pakistan, Hamid Ansari Returns To India

Awareness

Johnson & Johnson Knew About Presence Of Cancerous Asbestos In Their Baby Powder

Awareness

Cabinet Approves Amendment To Make Aadhaar Optional For Banking, Phone Connections

x

Stories that deserve attention, delivered to your inbox!

Handpicked, newsworthy stories which deserve the attention of a rational generation.