The favouritism towards the corporates by the UPA-II government is once again established through the revelation that 63.5 % of the tax rebate was granted to them, while only the balance to the common people. Out of a total rebate of Rs. 1,38,931 crores rebate in 2010-11, the majority, Rs.88,263 crores, were for the corporate.
Another shocking information is that only 3.8 lakh companies out of a total of 7.2 lakh companies are in the tax net. Others, more than 50% are not paying any tax at all.
What the Income Tax Department and the Government have to say on these revelations?