As on March 31, the total amount outstanding under indirect taxes is about Rs.1.65 lakh crore, he added. There are 77 companies with an outstanding tax demand of Rs.500 crore or more as on end-March, the minister said.
The income tax department has devised a scheme of action by field officers, which includes setting targets for recovery of arrears and current demand raised, regular monitoring of actions of the assessing officer by higher authorities, Sinha said. The statute also provides for attachment of movable properties or attachment and sale of immovable properties for recovery of tax dues, he added. (IANS)