FinMin says no tax arrears written off

Thursday, January 4, 2007, 21:33 [IST]

New Delhi, Jan 4 (UNI) The Ministry of Finance today denied that it has written off a large amount of tax arrears, saying that it was not possible to do so as cases relating to these are in litigation.

Clarifying reports that the government has written off tax arrers totalling Rs 85, 000 crore, the Ministry said that as on November 30, 2006, out of a total tax arrears of Rs 1,19,250 crore, arrears amounting to Rs 96,249 crore have been categorised as 'difficult to recover'.

''As a majority of the arrear tax demand is locked up in various stages of litigation and legal proceedings, it is not possible to write off such demand unless the litigation reaches its finality. It is, therefore, not the case that the arrear of taxes have become 'non-recoverable' and that the Government needs to write off such demand as reported,'' an official release said here today.

UNI

Topics: finance, denied, written, amount, tax, arrears

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