Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Govt aims to recover over ₹46.57 lakh cr in tax arrears
Hindustan Times Bengaluru
|January 09, 2025
The government is making a concerted effort to recover direct and indirect tax arrears amounting to over ₹46.57 lakh crore, with the Central Board of Direct Taxes (CBDT) launching a campaign to recover ₹14.97 lakh crore net collectible demands and the Central Board of Indirect Taxes and Customs (CBIC), ₹4.27 lakh crore, two officials said.
NEW DELHI:
To put the numbers in perspective, the total outstanding is around 14% of India's GDP. To be sure, a significant portion is unlikely to be recovered, either because of legal issues, or because the companies involved have no way of paying that kind of money.
Tax demand arrears are huge and this needs to be addressed urgently, the officials added, requesting anonymity. These tax demands were raised on assesses over a period of time but could not be recovered, hence are classified as arrears. According to official data, the cumulative direct tax arrears soared to ₹42.30 lakh crore in October 2024.
This story is from the January 09, 2025 edition of Hindustan Times Bengaluru.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Bengaluru
Hindustan Times Bengaluru
How Charani changed the semi-final
On a day when most of India’s bowlers went for plenty, the youngest player in the squad, Shree Charani --the bandannawearing left-arm orthodox spinner from Andhra Pradesh - held her own.
2 mins
October 31, 2025
Hindustan Times Bengaluru
Litchfield’s classic becomes a footnote in India’s superb win
Phoebe Litchfield cover driving asa 16-year-old was the first sighting, The clip went viral, which helped the New South Wales batting sensation to speed through the meritorious Australian women's cricket biosphere.
2 mins
October 31, 2025
Hindustan Times Bengaluru
His noble soul remains country’s inner monitor
I have no memories of the great man. As a two-three year old, I was lucky enough to have seen Sardar Vallabhbhai Patel many times. Including on his last birthday, on October 31, 1950, when my parents took me to his home to greet him and join a two-family photo-op. But all those real ‘sightings’ as I would like to think of them, have been wiped off my mind's screens.
4 mins
October 31, 2025
Hindustan Times Bengaluru
77% fall in Indian illegal immigration to US in first 9 mths of Trump admin
Indian illegal immigration to the United States has plunged sharply by 77% in the first 9 months of the Trump administration, according to data released by the US Customs and Border Protection agency reviewed by HT.
2 mins
October 31, 2025
Hindustan Times Bengaluru
Cobrapost alleges ₹28.8K-cr fraud by Anil Ambani's ADA
Web portal Cobrapost, in an article published on Thursday, accused the Anil Dhirubhai Ambani (ADA) Group of a fraud amounting to ₹28,874 crore since 2006 by diverting money borrowed from banks and investors, although the conglomerate said most of the issues are related to past or ongoing investigations and cases, with the information already being in the public domain.
1 min
October 31, 2025
Hindustan Times Bengaluru
Former shooter Vijay writes to PMO over coaching job snub
London Olympics silver medallist shooter Vijay Kumar has sought intervention from the Prime Minister's Office (PMO) after being ignored for the coach's job by the national shooting federation (NRAI).
2 mins
October 31, 2025
Hindustan Times Bengaluru
Hazy picture: Delhi’s sharp AQI spike puts data under spotlight
spike over the past 24 hours, and previous underreporting. After all, Wednesday (October 29), looked visibly like a 350-plus day, as longtime sufferers in the Capital can vouch.
3 mins
October 31, 2025
Hindustan Times Bengaluru
Gold demand falls 16% in Sept qtr on high prices
India’s gold demand fell 16% by volume in the July-September quarter of 2025 as record-high prices dampened consumer appetite, though investment buying surged on safe-haven appeal, the World Gold Council said on Thursday.
2 mins
October 31, 2025
Hindustan Times Bengaluru
Scaring people is my cardio, says Adah Sharma
Adah Sharma made her debut with the supernatural hit 1920, so scares and spooks are hardly new to her. This Halloween, the actor opens up about costumes, candy, chaos, and her delightfully eccentric take on the festival of fright.
1 mins
October 31, 2025
Hindustan Times Bengaluru
Shreyas Iyer shares health update after spleen injury
India's ODI vice-captain Shreyas Iyer has shared a much-awaited health update after sustaining a spleen injury during the third ODI against Australia in Sydney.
1 min
October 31, 2025
Listen
Translate
Change font size