Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: due date for vat payment :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: VAT RATES :: VAT Audit
 
 
From the Courts »
 M/S TEJ QUEBCOR PRINTING LTD. Vs. JOINT COMMISSIONER OF INCOME TAX
 Principal Commissioner Of Income Tax (Central) Vs. M/s A2z Maintenance & Engineering Services Ltd.
 Pr. Commissioner Of Income Tax-19 Vs. Shri Neeraj Jindal
 Rollatainers Ltd. Vs. Commissioner Of Income Tax
 CIT vs. G K K Capital Markets (P) Limited (Calcutta High Court)
 CIT vs. Arpit Land Pvt. Ltd (Bombay High Court)
 CIT vs. Abacus Distribution Systems (India) Pvt. Ltd (Bombay High Court)
  ACIT vs. Mahesh K. Shah (ITAT Mumbai)
  Malay N. Sanghvi vs. ITO (Bombay High Court)
 Pr. Commissioner Of Income Tax-Xviii Vs. Praveen Saxena
 Unitech Hospitality Services Limited Vs. Assistant Commissioner Of Income Tax

Rs 1 lakh crore taxman, taxpayer face-off
March, 16th 2011

The government today said over Rs 1.60 lakh crore has been locked up in disputes between the income tax department and taxpayers as on January, 2011.

"Out of the total arrears, the amount locked up in disputes between the income tax department and taxpayers as on January, 2011 is Rs 1,60,499 crore," Minister of State for Finance S S Palanimanickam said in a written reply to Rajya Sabha.

He further said various steps have been taken by the government to reduce unnecessary litigation.

These include increasing the monetary limit for filing of appeals by the income tax department before the Income Tax Appellate Tribunal (ITAT), High Court and Supreme Court.

With effect from February 9, 2011, the limits to file appeals before the ITAT, HC and SC have been increased to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh, respectively.

"As a result, likely reduction in litigation at ITAT level is 13 per cent, and at HC and SC level 25-30 per cent," Palanimanickam added.

Besides, the Central Board of Direct Taxes along with the Directorate of Income Tax (Recovery) is monitoring the outstanding arrears of above Rs 10 crore, he said.

The CBDT fixes target for recovery of pending dues for every financial years. The target for recovery of arrears demand for the current fiscal is Rs 13,906 crore, Palanimanickam added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions