New Delhi: The Finance Ministry has written off INR 1.33 lakh Crore direct taxes – they say it is non-recoverable. A Parliamentary committee has come down heavily on this news. Question is how was this allowed to reach such “irretrievable’ levels. Out of a total demand of INR 2,48,927 crore as direct tax arrear, the said amount has been deemed non-recoverable.
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- Direct tax collections rise 6.59 percent in April-October (vancouverdesi.com)
- All about India’s own fiscal cliff (rediff.com)