I-T department to name and shame 31 big tax defaulters
After naming 18 entities in the first phase, the income tax (I-T) department has come up with a list of 31 defaulters who owe over Rs 1,500 crore to the government.business Updated: Apr 16, 2015 02:08 IST
After naming 18 entities in the first phase, the income tax (I-T) department has come up with a list of 31 defaulters who owe over Rs 1,500 crore to the government.
Under its strategy of ‘naming and shaming’ large tax defaulters, the I-T department is soon expected to publish and put these names in public domain, sources said.
Some of the big defaulters of income tax/corporate tax, which are likely to be in the list, include Hyderabad-based Totem Infrastructure (Rs 401.64 crore), Pune-based Patheja Bros Forging & Auto Parts Manufacturing Company (Rs 224.05 crore), Hyderabad-based Royal Fabrics (Rs 158.94 crore); and Mumbai-based Home Trade (Rs 72.18 crore).
The government will ask the defaulters to “pay tax arrears immediately”, the I-T department said.
The assessees are either “not traceable” or they have “inadequate assets for recovery”, it added.
Earlier this month, the tax department had named 18 entities who owe over Rs 500 crore in tax to the exchequer.
As per the government estimates, the total corporate tax demand pending for collection up to December 2014 was Rs 3,11,080 crore.