In need of cash, Finance Ministry chases nearly Rs 8 lakh crore billion in elusive back taxes

In need of cash, Finance Ministry chases nearly Rs 8 lakh crore billion in elusive back taxes

India's Finance Ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious deficit target.

Arun Jaitley asks taxmen to be 'firm and fair'

Asking the new Indian Revenue Service officers to be 'firm and fair' in tax collection, Finance Minister Arun Jaitley on Friday said a taxman's job does not involve giving any concessions or discounts.

Taxes will be collected in just and fair manner: FinMin

Finance Ministry on Tuesday assured taxpayers that efforts would be made to end hostile relationships between officials and assessees and collect revenue in a "just and fair manner".

Gross direct tax collection up 8% in Apr-Dec

Led by healthy growth in personal income tax collection, the gross direct tax collection in the nine months till December of the current fiscal increased by 8.01 percent to Rs 4.28 lakh crore.

Revenue foregone by govt due to tax exemptions double in 5 years

The amount of revenue foregone by the government due to tax exemptions more than doubled from Rs 65,587 crore in 2006-07 to Rs 1,38,921 crore in 2010-2011, a CAG report said on Tuesday.