(a) The total revenue collected by way of Corporate Taxes
during 1998-99, 1999-2000 and during 2001;
(b) the public sector contribution to Corporate taxes
during the above period;
(c) whether there is any unrealised Corporate Tax;
(d) If so, the details thereof; and
(e) the steps taken to realise the same with the
action taken against defaulters?
MINISTER OF STATE IN THE MINISTRY OF FINANCE (SH. GINGEE N. RAMACHANDRAN)
a) The revenue collected from Corporate Tax for the
years 1998-99, 1999-2000 and 2000-2001 is Rs. 24529 crores,
Rs. 30692 crores and Rs 35656 crores respectively.
b) No separate statistics are maintained for Public
Sector Undertakings and Other Companies.
C & d) Yes, Sir. The total amount of unrealised
Corporate Tax as on 31.12.2001 is Rs. 23899 crores.
e) Income Tax prescribes a statutory procedure for
collection and recovery of taxes. The recovery of the
outstanding tax is a continuous process. The process
starts after the demand falls due after 30 days of the
service of the Demand Notice. Thereafter, action is
taken by Assesing Officer in respect of unstayed demand
by attaching bank accounts, charging interest, levying
penalty etc. In difficult cases matter is referred to
Tax Recovery officer who takes various coercive measures
as per the Act like attachment and sale of defaulter`s
movable and immovable properties, arrest of defaulter
and his detention in prison, appointment of receiver
for the management of the defaulter`s movable and
immovable properties. The recovery action taken by
the Assessing Officer and TRO`s is closely monitored
by the higher Income Tax Authorities. Further, dossier
cases having outstanding demand of Rs. 10 lakhs and
above are monitored by higher Authorities on a regular
periodic basis and necessary instructions are issued
for taking various coercive measures for effecting the
recovery of demand.