Saturday 12 May 2012

Campaign to Recover Outstanding Amount

Recovery of outstanding arrears is an on going process. So far as recovery of outstanding arrears pertaining to direct taxes is concerned, the case of outstanding dues of Rs. 1 crore and above are regularly monitored at a senior level in the Income Tax Department through the mechanism of dossiers to ensure expeditious recovery. Further more, recently in cases where the assesses are not traceable or in whose cases assets as per available information are inadequate, detailed standardized procedure has been outlined to accelerate recovery resulting in detection of certain bank accounts.
This information was given by the Minister of State for Finance, Shri S.S. Palanimanickam in written reply to a question in the Lok Sabha today. 

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