New Delhi: The Government informed on Friday that as many as 411 MNCs out of the total 1,915 assessed were found guilty of direct tax evasion during 2005-06.
The number of evaders works out to be 21.46 per cent, Minister of State for Finance S S Palanimanickam said in a written reply in the Lok Sabha.
The total arrear demand in respect of companies under the jurisdiction of the Directorate of Income Tax (International Taxation) was Rs 6,385.09 crore as on April, he said.
Tax demand in respect of the companies has been raised over the past several year and notices are being issued from time to time to enforce recovery of the demand, he said.
He also said in view of the increasing workload in the Directorate of Income Tax (International Taxation), request for creation of additional posts are made from time to time to improve the quality of assessment and post-assessment work.
External Debt:
Country's total external debt as on March stood at $125.2 billion, Minister of State for Finance Pawan Kumar Bansal told Lok Sabha in a written reply.
The liability of foreign loans on financial structure of the country as measured by the ratio of the external debt-to- GDP and proportion of debt service payments of external current receipts (debt service ratio) was 15.8 per cent and 10.2 per cent, respectively in 2005-06, he said.
Bansal said, the total disbursement of loans raised by the Government amounted to $749 million (Rs 3,491 crore) during the current year so far (April-July 2006).
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