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No evidence to suggest rise in tax evasion: Government

Posted Date : 06-Sep-2011 , 10:38:50 pm | Posted By CASANSAAR print Print

The government on Tuesday said there is no evidence to suggest any increase in incidence of tax evasion over the previous years.

"There is no evidence to suggest that there has been a rise in evasion of income tax over the previous years," Minister of State for Finance S S Palanimanickam said in a written reply to the Rajya Sabha.

The increase in direct tax collection of over six times in the last 10 years between 2001-02 to 2010-11 and growth of nearly two times in the direct tax to GDP ratio in the same period from 3.03 per cent to 5.66 per cent, indicates better tax administration and improved tax compliance, he said.

In a separate response, Palanimanickam said, "The direct tax laws contains provisions prescribing varying terms of imprisonment for various tax offences. Prosecutions under these provisions are launched in appropriate cases".

Further, a committee headed by the Chairman, CBDT, has been constituted to examine ways to strengthen laws to curb generation of black money in India, its illegal transfer abroad and its recovery, he said.

The committee is to examine the existing legal and administrative framework to deal with the menace of generation of black money through illegal means, he said.

It will consult all stakeholders and submit its report within a period of six months, Palanimanickam added.

Replying to another question, he said, the Prevention of Bribery of Foreign Public Officials and Officials of Public International Organisation Bill, 2011 has been introduced in Parliament on March 25, 2011 and referred to the Parliamentary Standing Committee attached to the Ministry of Personnel, Public Grievances and Pensions for considerations and report.

"The Bill seeks to prevent corruption relating to bribery of foreign public officials and officials of public international organisations and for matters connected therewith or incidental thereto," he said. (PTI)

Category : Income Tax | Comments : 0 | Hits : 241

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