Income Tax Department to Recover Rs 115 Crore Tax Dues from Indian National Congress

Income Tax Department to Recover Rs 115 Crore Tax Dues from Indian National Congress

The income tax department has announced its decision to recover income tax dues worth Rs 115 crore from the Indian National Congress for the financial year 2018-19. As part of the routine procedure followed by the department, multiple bank accounts of the party have been attached and frozen. The move was made to safeguard the claimed amount. The accounts, however, remain operational for cheque deposits, but a balance of Rs 115 crore must be maintained.

A person familiar with the matter stated that this standard procedure is aimed at safeguarding the revenue’s position in taxation matters. The income tax appellate tribunal has not provided any relief to the party and is scheduled to hear the case on February 21.

The case pertains to a tax demand of Rs 103 crore for the financial year 2018-19. After including interest, the total amount came to Rs 135 crore. In 2021, the Congress appealed against the decision and was required to deposit Rs 21 crore to proceed with the appeal. However, the party only deposited Rs 78 lakh crore and then an additional Rs 1.75 lakh crore, which led to the dismissal of their appeal and the freezing of their account.

For more details, read the full article.

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TIS Staff

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