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Corporate entities owed over ₹4.85 lakh crore to the exchequer in outstanding tax demands, in direct and indirect taxes, towards the end of fiscal year 2014-15, Parliament was informed on Tuesday.
“The total outstanding tax demand pending collection, under the head corporate tax, under the Direct Tax laws, as on February 28, is over ₹3.2 lakh crore,” Minister of State for Finance Jayant Sinha said in a written reply to the Rajya Sabha.
As on March 31, a total amount of about ₹1.65 lakh is outstanding under indirect taxes, which include central excise, customs and service tax, he said.
There are 77 companies with an outstanding tax demand of ₹500 crore or more as of March, Sinha said.
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