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OUTSTANDING TAX COLLECTION
Sold, or just shipped? How sales figures can be manipulated – and how you can spot itGoods left the warehouse. The invoice went out. So it must be a sale, right? Not always. Under the rules, a sale counts only when the custo...- SBI Research sees Bengal budget tone most optimistic in 17 yearsWest Bengal's new budget signals a significant policy shift, moving from welfare to investment and industrial growth, according to SBI Rese...
- Has Form 168 replaced Form 26AS for FY 25-26? Here's what taxpayers need to know for ITR filingForm 168: The Income Tax Department has unveiled Form 168, a comprehensive upgrade to the Annual Information Statement, effectively superse...
- Good news for taxpayers! Faster tax refunds, quicker dispute resolution, TDS framework improvements and more planned by CBDT for 2026-27Taxpayers can anticipate significant improvements in the TDS system and faster resolution of tax disputes. The Central Board of Direct Taxe...
- ED case files in poll-bound West BengalThe Enforcement Directorate is actively investigating several money laundering cases across West Bengal. These probes target alleged corrup...
- 2.22 lakh appeals disposed of during last fiscal: CBDT chairmanLast fiscal year, the Income Tax Department successfully resolved an impressive 222,000 appeals, showcasing a remarkable 29% growth in effi...
- CBDT recovers Rs 92,400 crore in outstanding taxThe Central Board of Direct Taxes (CBDT) recovered ₹92,400 crore in outstanding tax for the financial year 2024-25 until March 15. This inc...
- Tough to mop up taxman's outstanding demandIndia's outstanding tax demand has surged to ₹42 lakh crore, with ₹27 lakh crore deemed difficult to recover. Untraceable assessees, insuff...
- I-T recovers ₹73,500 cr in pending billsThe income tax department has recovered ₹73,500 crore of pending dues in the current financial year up to March 15, with corporate tax dues...
- Tech helps I-T department recover Rs 36,000 croreIndia's income tax department has recovered ₹36,000 crore from outstanding tax demand in the current fiscal, including ₹27,000 crore from c...
- Just 17 individuals owe a whopping Rs 2.14 lakh crore tax arrearsJust 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.
- Tax dues from companies at Rs 4.85 lakh crore: Finance MinistryThe statute also provides for attachment of movable or attachment and sale of immovable properties for recovery of tax dues.
- Over 94% of outstanding tax hard to recover: CAG ReportThe audit report said the uncollected tax demand had risen 18 per cent to Rs 5.75 lakh crore in 2013-14 from Rs 4.86 lakh crore in the prev...
- Outstanding tax demand up at Rs 5.75 lakh crore in FY'14The minister said that as far as direct taxes are concerned, raising of demand and collection/recovery of outstanding dues is a continuous ...
- Difficult to recover 97 per cent of Rs 4.82 lakh crore tax arrears: CBDTCBDT has reported that 97 per cent of Income Tax demand arrears, quantified over Rs 4.66 lakh crore, is "difficult" to be recovered.
- Over Rs 4.18 lakh crore outstanding in I-T arrears till December: Finance MinisterThis includes tax arrears of Rs 1,16,773.77 crore by major defaulter Hassan Ali Khan, Chandrika Tapuriah and (Late) Harshad S Mehta, FM sai...
- Rs 2.73 lakh crore of I-T dues locked up in disputes: GovtAs much as Rs 2.73 lakh crore of outstanding income tax dues are locked up in tax disputes at various levels, Parliament was informed today.
- Tabs on corporate advance tax kittyTaxmen will keep a close watch on corporate advance tax payments as the income-tax department turns the heat on them to shore up direct tax...
- Rs 130,733 cr tax arrears mop-up doubtfulOver 80% of India’s cumulative tax arrears may never be recovered. With the global meltdown beginning to hurt India Inc and its profitabili...
- Eunuchs to assist in tax collectionThe PMC will pay the eunuchs a four percent commission for their services.
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