I-T department names, shames 24 tax defaulters through newspaper ads
What's the story
The income tax department on Thursday advertised in several national dailies a pan-India list of 24 defaulting individuals/companies who collectively owe it taxes worth Rs. 490 crore and have either reported inadequate assets or gone untraceable.
Titled 'List of defaulters of Income Tax and Corporate Tax', the ad has been published under the I-T department's name and shame defaulters policy, reported PTI.
Here's more.
Contents
What is the advertisement about?
The ad makes public several crucial details of the defaulting individuals/companies including their identity, names of directors/partners, date of company's incorporation/date of birth, Permanent Account Number (PAN), Tax Deduction Account Number (TAN), address, business profile, total tax defaulted, assessment year and jurisdictional I-T authority.
Issued by I-T principal director general's Delhi nodal office, the ad "advised" listed defaulters to pay tax arrears without delay.
Details
Some defaulters haven't paid taxes even for assessment year 1989-90
The companies the ad shames are in businesses such as food processing, real estate, breweries, bullion trading, software and ingots manufacturing.
These firms are based across India in cities including Ahmedabad, Guwahati, Vijaywada, Nashik, Surat, Vadodara, Delhi and Kolkata.
However, since the unpaid taxes of several listed defaulters date as far back as 1989-90, the notice admits that certain details might have changed now.
Keeping track
The maximum amount owed by one firm: Rs. 86.27 crore
The public announcement aims to spread information of defaulters so that people can help the I-T department in their speedy arrest.
Delhi company Ms Stock Guru, India and its partner Lokeshwar Dev owe the exchequer the maximum amount (Rs. 86.27 crore) for the assessment years 2009-10 and 2010-11.
It has been untraceable and has filed inadequate assets to pay the income tax, reported PTI.