Income Tax Department Publishes List of 31 Big Defaulters Wednesday April 15,2015

 

Moving ahead with its strategy of 'naming and shaming' large tax defaulters, the Income Tax Department on Wednesday April 15,2015 came out with a list of 31 defaulters who owe a total of over Rs 1,500 crore to the government.

Some of the big defaulters of income tax/corporate tax in the list are -

• Hyderabad-based Totem Infrastructure (Rs 401.64 crore)
• Pune-based Patheja Bros Forging & Auto Parts Mfg Co (Rs 224.05 crore)
• Hyderabad-based Royal Fabrics (Rs 158.94 crore) and 
• Mumbai-based Home Trade (Rs 72.18 crore)

Asking the defaulters mentioned in the list to "pay tax arrears immediately", the Income Tax Department said the assessees are either "not traceable" or they have "inadequate assets for recovery"

The disclosure of names 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 their whereabouts.

This is the second such list released by the department within one month. The earlier list had names of 18 entities who owe over Rs 500 crore in tax to the exchequer.
The companies in the list include

• Somani Cement with tax arrears of Rs 27.47 crore
• Blue Information Technology (Rs 75.11 crore)
• Appletech Solutions (Rs 27.07 crore)
• Jupiter Business (Rs 21.31 crore) and 
• Hirak Biotech (Rs 18.54 crore).

  
The other Gujarat-based companies which figured in the defaulters list include

• Icon Bio Pharma & Healthcare Ltd (Rs 17.69 crore)
• Banyan & Berry Alloys (Rs 17.48 crore)
• Laxminarayan T Thakkar (Rs 12.49 crore)
• Virag Dyeing & Printing (Rs 18.57 crore)
• Poonam Industries (Rs 15.84 crore)
• Kunvar Ajay Food Pvt Ltd (Rs 15 crore)    

Besides, names of Jaipur-based Goldsukh Trade India (Rs 75.47 crore), Kolkata-based Victor Credit & Construction (Rs 13.81 crore), Mumbai-based Noble Merchandise (Rs 11.93 crore) are also there in the list.
  
The list also includes the legal heir of Pune-based G K Dharne involving a tax default of Rs 38.31 crore.

Note
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.