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.
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This story is from the January 09, 2025 edition of Hindustan Times Bengaluru.
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