Finmin: Income Tax arrears stood at Rs 2,48,927 crore
February, 23rd 2011
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 minister, however, said the department of Revenue does not maintain database of income tax dues of persons engaged in particular professions like theatre or TV personalities.
Palanimanickam said that besides statutory measures for recovery of outstanding tax, the CBDT also monitors cases where arrears are above Rs 10 crore.
"Assessing officers have been directed to focus on the recovery of outstanding demand specifically during the last quarter of a (any) financial year," the minister said, adding the concerned authorities have been asked to sort out appeals early on cases involving substantial amounts.