The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.
July - 2010 - issue > In Focus
Over 500 Biggies Listed in Tax Defaulters' List for 2010
ST Team
The total tax arrears were Rs. 2.30 lakh crore till March 31. But another Rs. 20,000 crore has already been added to it in the new fiscal. The department has targeted to recover Rs. 14,000 crore this year. In the previous year, nearly Rs. 12,000 crore was recovered by the department.
With the help of the Individual Transaction Statement (ITS), income tax officers can have access to the individuals’current assets and to information like investment in mutual funds, shares, and other expenditure.
In 2009, the IT department’s Directorate of Recovery had analyzed the dossiers that had outstanding demands of more than Rs. 25 crore. Out of the total of 551 such dossiers, only 258 cases were found to be having wholly actionable demands. These are the demands that had not been covered by any write-off proposal, BIFR proceedings, and settlement commission proceedings.
As further analysis showed, 227 out of 258 cases were concentrated in nine major cities. At the time of annual general conference which was held in the capital last year in August, a list was also handed over to each chief commissioner of IT.
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