Tag Archives: Tax arrears

Arrears of tax at Rs. 8.9 lakh crore in 2014-15!

12 Saturday Mar 2016

Posted by in General

≈ Leave a comment

Tags

The arrears of tax to be collected is increasing from year to year. Rs. 8.9 lakh crores is the tax arrears to be collected in 2014-15. It is to be noted that out of this, Rs. 7 lakh crore is direct taxes. The CAG has severely criticised for not collecting these.

it is understood that most of these arrears are from the big business and the corporates. Not only cheating the banks as in the case of Vijay Mallya, but also cheating the government. The government machinery is  partly responsible for this ugly situation.

Govt. appoints Negotiator for Vodafone Tax Dispute

18 Wednesday Jun 2014

Posted by in General, Telecom

≈ Leave a comment

Tags

, , ,

Instead of continuing with strong measures to collect the tax arrears coming to about Rs. 14,000 crore from major telecom company Vodafone, the NDA Government is becoming soft. It has now appointed a negotiator, former Supreme Court Chief Justice R.C.Lahoti to deal with the issue.

It is reported that there are similar other tax arrears, which in total, would come to about Rs. 27,000 crore, including that of Nokia, Oyj etc. All these also will go to the negotiator for settlement.

The BJP spokesmen have already indicated that the retrospective tax practice would retard the confidence of the foreign investors, which is a clear indication that the new government at the centre is prepared to adjust the tax arrears. Such a decision will result in heavy loss to the exchequer and windfall profit to the private MNCs. The government should, instead, be firm in collecting the due tax arrears.