Highest tax defaulter of the country

HASAN ALI KHAN HAVE OUTSTANDING TAX DEMAND OF 50,345 CRORE

Stud farm owner Hassan Ali Khan tops the list of direct tax defaulters in the country.  The outstanding demand against Khan as on March 31, 2009, is a whopping Rs 50,345 crore. In a written reply in the Rajya Sabha on Tuesday, minister of state for finance S S Palanimanickam gave the names of Top 100 defaulters of direct taxes worth Rs 1.41 lakh crore. 

The list includes individuals as well as businesses ranging from banks to telecom companies to beverage firms to airlines.

Chandrika Tapuriah, wife of Kolkata-based businessman Kashinath Tapuriah, has the second highest tax outstanding at Rs 20,540 crore, followed by Big Bull (late) Harshad Mehta at Rs 12,719 crore.

Other members of Mehta’s family — Jyoti Mehta and Ashwin Mehta — are among the Top 10 defaulters. A D Narottam and Hiten Dalal are also in Top 10 list.

Among businesses, Sahara India Financial Corp leads at No 6 position in the list with a direct tax outstanding of Rs 3,063 crore.

Other corporates among the Top 20 defaulters include state-owned telco Bharat Sanchar Nigam Ltd which owes Rs 2,417 crore, Sahara India (Rs 1,945 crore), IDBI (Rs 964 crore), Sahara Airlines, now JetLite (Rs 850 crore) and Star (Rs 838 crore).

Maharashtra State Electricity Distribution Co is 21st with an outstanding tax of Rs 700 crore, while Maharashtra State Power Generation Co is 61st rank with an outstanding of Rs 251 crore.

Prominent companies in the defaulters’ list are NTPC (Rs 622 crore), Coca Cola India (Rs 600 crore), Oracle Corp (Rs 558 crore), Canara Bank (Rs 512 crore), Tata Communications (VSNL, Rs 507 crore), Allahabad Bank (Rs 487 crore), General Insurance Corp (Rs 473 crore), Nokia Corp (Rs 448 crore), Oil India Ltd (Rs 447 crore), State Bank of India (Rs 333 crore), Satyam Computer (Now Mahindra Satyam, Rs 290 crore), Tata Industries (Rs 251 crore), Bank of India (Rs 248 crore), Escorts Heart Institute (Rs 216 crore), IndianOil Corp (Rs 210 crore), IBM (Rs 208 crore), Tata Motors (Rs 206 crore), Shaw Wallace Breweries (Rs 181 crore), Uco Bank (Rs 179 crore), and Reliance Energy (Rs 176 crore).