India’s income tax department is hoping that making names of big tax defaulters public might lead them to pay up after all other efforts have failed.
Today a list of 31 such defaulters was released, who cumulatively owe the government Rs 1,500 crore in unpaid taxes. Some of the top defaulters are Hyderabad-based Totem Infrastructure with arrears of Rs 401.64 crore, Pune-based Patheja Bros Forging and Auto Parts Mfg Co with dues of Rs 224.05 crore and Hyderabad-based Royal Fabrics with dues of Rs 158.94 crore. The full list of all defaulters is here.
The income tax department has said these entities are either not traceable or have inadequate assets for recovery of dues. This is the second such list in less than a month.
The initiative, according to a senior tax official is aimed at publicizing and putting these names in public domain so that the common man can come forward to help the department in knowing the whereabouts of these.
As per a statement given by government in Parliament, the total Corporate Tax demand pending for collection up to the month of December, 2014 was Rs 3,11,080 crore.
Government’s efforts to improve revenue collection include surveys for identification of potential tax evaders, gathering information from various sources, regular scrutiny, audit, joining global efforts to combat cross-border tax evasion and tax fraud and to promote international tax compliance.
