Income Tax India: Statistics

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This is a collection of articles archived for the excellence of their content.

2015: 17 people owe Rs 2.14 lakh crore arrears

The Times of India, Aug 01 2015

Just 17 people owe massive Rs 2.14 lakh cr in tax arrears

Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore. This is more than double the amount of total tax dues worth Rs 90,568 crore outstanding against 35 companies in this category (with outstanding tax arrears of over Rs 1,000 crore each), the Parliament has been informed.

Together, these individuals and companies account for more than one-third of the overall direct tax arrears (including the demand not fallen due), which stood at Rs 8,27,680 crore as on April 1, 2015.

At the same time, the number of taxpayers owing over Rs 10 crore to the government rose by about 69% to 4,692 in three years to March, 2015.

These details have been disclosed in written replies to the Rajya Sabha by minister of state for finance Jayant Sinha, who also said that a large proportion of the large-size outstanding tax arrears may not be collectible due to various reasons. Sinha said action for recovery is being taken.