The sum included ₹17,244 crore as corporate tax, ₹2,714 crore as personal income-tax and ₹180 crore as short payment or non-payment of tax deducted at source, said officials.
The recovery was against the demand notices sent by the income-tax department till March 31.
The recovery drive is set to intensify in the coming months, as the department is targeting to recover ₹1.96 lakh crore this fiscal, according to officials.
“In the last few years, recovery has been good and this year our target is to touch at least Rs 2 lakh crore, and we will comfortably achieve it,” a senior official told ET on condition of anonymity.
The department is identifying areas where it feels taxpayers are not declaring correct income or are wilfully evading tax.The CBDT has asked its field formations to expedite the recovery process with clear zone-wise recovery targets, with focus on those cases where litigation is in the favour of revenue in the first appeal.The board has asked assessing officers to ensure all possible efforts are made to collect outstanding demands that have been confirmed by Commissioner of Income-tax (Appeals) in the first appellate stage
Out of the appeals disposed during 2024-25, the demands fully confirmed in favour of revenue amounted to ₹1.96 lakh crore, according to the official cited earlier.
In 2024-25, the CBDT recovered about ₹92,400 crore in outstanding dues, including ₹67,711 crore as corporate tax and ₹23,536 crore as personal income-tax and ₹1,100 crore against non-payment of tax deducted at source.
Increasing tax arrears had been a matter of concern for the department.
Outstanding tax demands of the income-tax department increased more than fourfold to ₹42 lakh crore on October 1, 2024, from ₹10 lakh crore in 2019-20, according to a report of the parliamentary standing committee on finance. Of this amount, the department is targeting ₹27 lakh crore for recovery.
Content Source: economictimes.indiatimes.com