Friday, May 21, 2010

Where did the tax dues go

An anti corruption bureau raid on a cooperative department official's residence yeilded more than Rs 40 Crore. A similar raid on a deputy collector revealed accumulated wealth that would put Kubera to shame. Last year the Union Government stated that Hasan Ali Khan, stud farm owner,topped the list of tax defaulters with outstanding arrears of more than Rs.50.000 thousand crore. The tax due after adding interest for belated payment of tax would exceed Rs.70.000 crore. This amount added to his money laundering activities would add up to a staggering Rs.100.000 Crore. Yet, the tax dues, of all levies, to the Government of India stated in this years budget total a mere Rs.117065 crorre.Where did the Rs.100.000 crore due from Hasan ali and his associates disappear.
The Finance Minister has said that the government did recover the tax dues from Hasan ali. How ever the revised estimates for 2010-2011 do not reflect this Rs.100.000 is too large a sum to be last even in the government of India's budget. A mear stud farm owner could not have aggregated such huge funds. The manner in which the government is going soft on them suggests that he may have been the conduit for political bigwigs.
Nagarajarao

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