New Delhi: In an effort to recover huge outstanding taxes, the Central Board of Direct Taxes has set up a committee to look into ways to recover tax from non-traceable assessees or where assets are not available for recovery, a release issued by the finance ministry said.
The committee set up the under the chairmanship of Anita Kapur, director general Income Tax (Admn) will also examine the possibility of engaging outside agencies to locate the whereabouts of non-traceable assessees and also undisclosed assets owned by the assessees with inadequate assets vis-à-vis the outstanding tax demand.
The committee will propose a reward scheme for informants who supply information about such tax defaulters and examine the feasibility and methodology of putting the names of chronic tax defaulters in public domain. The Committee will submit its report within two months.
Tata, Idea among 10 companies under 2G probe: ED tells JPC
New Delhi: Enforcement Directorate on Wednesday told the JPC that it was investigating 10 companies, including Tata Teleservices, Idea Cellular, in connection with the 2G spectrum allocation case.
ED director Arun Mathur, in a presentation to the Joint Parliamentary Committee examining the spectrum allocation, said that the probe agency has been investigating 10 telecom companies for allegations of violation of the Foreign Exchange Management Act and the Prevention of Money Laundering Act.
Unitech Wireless (Tamil Nadu), Swan Telecom, Loop Telecom, S-Tel Limited, Videocon Telecom, Idea Cellular, Tata Teleservices, Sistema-Shyam Telecom, Allianz Infratech which subsequently became EtisalatDB and Spice Communications which has since been merged with Idea Cellular are the companies being investigated by the ED, JPC Chairman P C Chacko told reporters here.
He said the ED, in the course of investigations, found FEMA violations by way of foreign direct investment through purchase of equity shares, covertible preferential shares and convertible debentures by non-resident persons.
Chacko said that the the ED had sent teams of officials to tax havens like Isle of Mann, British Virgin Islands in connection with the investigations.
Meanwhile, the JPC has decided to call all former Telecom Secretaries since 1998, including Siddharth Behura who has been jailed in connection with the 2G scam, as witnesses for recording of evidence when the Committee meets next on July 7-8.
Among those asked to appear as witness were P J Thomas, D S Mathur, J S Sarma, Nripendra Misra, Vinod Vaish, Shyamal Ghosh, Anil Kumar and A V Gokak.