News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
« General »
 Who is to blame for virus going viral from Nizamuddin?
 Income Tax Refund 2019-20: Get up to Rs 5k without adjusting outstanding demand
 Income Tax refund: Paid tax under dispute? Here’s how you can get it back in Vivad se Vishwas
 Finance Ministry extends due date for Renewal of Health, Motor Insurance Policies due to COVID-19 outbreak April 2, 2020
 AIIMS doctor tests positive for COVID-19 Coronavirus News India LIVE Updates
 Tax deadlines, penalties you needn’t worry about
 Tax saving deadline extended for FY2019-20
 Tax relief for PM CARE, PM National Relief funds must be at par
 RBI to announce steps to boost economy at 10 am today
 Covid-driven tax reliefs to cost government 2-3% of GDP
 Will govt extend these five financial deadlines amid coronavirus outbreak?

Govt: Tax arrears rise 18 percent to 2.93 lakh cr
November, 24th 2010

The government 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.

Direct tax includes income tax, corporate tax, wealth tax, among others.

On the other hand, arrears of indirect tax, which constitutes central excise, customs and service tax, increased to Rs 44,212 crore as on March 31, 2010 as compared to Rs 33,790 crore at the end of 2008-09. Thus, registering a gain of over 30 per cent.

Palanimanickam further said that the target of recovery of tax arrears pertaining to direct and indirect taxes is fixed at the beginning of the respective financial year.

The targets of tax arrears' recovery in respect of direct and indirect taxes for the financial year 2010-11 are fixed at Rs 13,906 crore and Rs 3,250 crore, respectively.

The government has set a budget target of Rs 4.3 lakh crore for the indirect tax kitty for this financial year.

Combined target for both direct and indirect tax collections for the year is Rs 7.45 lakh crore.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting