Par panel wants govt to watch on high spending individuals

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Press Trust of India: New Delhi, Dec 06 2012, 22:09 IST

data provided by the Finance Ministry, Hassan Ali Khan group has arrear of Rs 91,859 crore, Harshad Mehta Group Rs 20,244 crore, Ketan Parekh Group Rs 4,017 crore and Dalal Group Rs 14,379 crore.

In Hassan Ali Group, the recovery is not possible though all known immovable and moveable assets belonging to the group have been attached, the Finance Ministry said in its submission before the committee.

Pulling up the Finance Ministry for not achieving target on recovery, the panel said "the arrear figures reflect very poorly on the efficacy of the recovery mechanism devised by the Ministry which requires a review immediately."

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srini | 11-Dec-2012Reply | Forward

Can the FM let the salaried class people know what action is being taken against erring tax defaulters of Companies. I know both big and small companies deduct tax from professionals, Contractors etc., but do not remit the same. On the other hand when the IT is not reflected in AS 26 the Assessing officer calls on the assesse to make good the sum. Why is not the FM taking action against these Companies.