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Rs 6,385 crore tax arrears from MNCs

Written by: Staff

New Delhi, Aug 25 (UNI) The government today said that multinational companies have an accumulated tax arrears of Rs 6,385.09 crores and evasion of direct tax was detected in 411 MNCs out of 1915 such companies assessed during financial year 2005-06.

Notices have been issued to the erring companies from time to time but the details of all the MNCs to whom such notices have been sent over the past several years are not maintained centrally, Minister of State for Finance S S Palanimanickam said.

In a written reply to the Rajya Sabha, the Minister said in view of the increasing workload in the Directorate of Income Tax (International Taxation), requests for creation of additional posts are made from time to time to improve the quality of assessment and post-assesment work.

Appropriate measures for recovery of tax demand provided in the Income TAx Act, 1961 are taken to recover direct taxes from MNCs, the Minister said.


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