LIC has biggest tax demand of Rs 7000 crore in the country

Tags: News
Life Insurance Corporation of India, the largest insurer of the country, has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.

The list of top ten pending tax demands in each category has been given by the Income Tax department to activist Subhash Agrawal in response to his RTI application seeking the list of top tax defaulters.

The tax demand raised by the department against LIC is of the assessment year 2010 which is pending "as on date", the response furnished on January 27, 2014 said.

In companies category, the top slot is given to LIC which also has biggest pending tax demand in all the other categories, according to the RTI reply.

The tax demand against LIC is Rs 7027 crore which is followed by Rs 2372 crore against Aditya Birla Telecom Limited, Rs 2038 crore against Vodafone Infrastructure Limited, Rs 1517 crore against Idea cellular and Rs 1494 crore against Bharat Petroleum Corporation Limited.

Other companies with pending tax demand in the country include Nerka Chemicals Private Limited with Rs 1354 crore, Tamil Nadu State Marketing Corporation with Rs 1234 crore, Andhra Pradesh Beverages Corporation Limited Rs 1228 crore, HDFC Bank Limited with Rs 1051 crore against and Indian Oil Corporation with Rs 874 crore, according to the reply.

In the individuals category, one Sanjay Singal leads the tally with pending tax demand of Rs 280 crore, followed by Sukesh Gupta with Rs 155 crore and former Jharkhand Chief Minister Madhu Kora with Rs 103 crore.

EDITORIAL OF THE DAY

  • Mob rage against the Tanzanian woman betrays racial and gender prejudices

    The mob rage in Bangalore against the Tanzanian woman is a national disgrace from which we can never recover even if we punish the wrong doers.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sachin Shridhar

VIPism is casteism by another name

Much has been written and lamented about the all-pervasive VIP ...

Zehra Naqvi

‘What if the British never came to India?’

Legendary Canadian writer Margaret Atwood proves as elusive to the ...

Bubbles Sabharwal

It's the life in your years that counts

We are all in a sense pilgrim souls enjoying the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture