Taxes Outstanding Against MNCs

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..... Taxes Outstanding Against MNCs - News and Press Release Dated:- 30-7-2010 - News - No separate database regarding the outstanding demand against Multi-National Company (MNCs) as a separate category or class is maintained. However, the total outstanding demand against companies as on 1.4.2009 was Rs. 75,509 crore out of which Rs. 9748 core was recovered during F.Y. 2009-10. The balance demand i .....

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..... ncludes demand locked-up in appeals before CITs (Appeal), ITATs, High Courts and Supreme Courts. Further the demand includes that which can not be collected for various reasons like protected demand, stay by courts, companies under liquidation, no adequate assets for recovery, cases notified under special courts, cases before BIFR, Income Tax Settlement Commission etc. Apart from the .....

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..... statutory measures taken for recovery of outstanding tax dues as prescribed under the Income Tax Act (including attachment of bank account, attachment and sale of immovable property, etc.) the following special measures are also being taken to expedite recovery of direct tax arrears. (i) Monitoring of recovery of amount in large cases by a Task Force. (ii) Identification of .....

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..... cases involving substantial amount pending before Commissioners (Appeals) and ITAT and requesting these authorities to dispose off such appeals early so that the amount can be collected during current financial year itself. (iii) Monitoring of all outstanding arrear above Rs. 10 crore by CBDT along with the Directorate of Income Tax (Recovery). This information was given by M .....

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..... inister of State for Finance, Shri S.S. Palanimanickam in a written reply to a Question raised in Lok Sabha today. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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