Recent surveys conducted by the income tax department have revealed that real estate developer Parsvnath allegedly failed to deposit over Rs 200-crore tax it had deducted with the government, while authorities have also raised questions over amounts deposited by public sector companies Indian Oil and BSNL.
Sources said Parsvnath’s alleged failure to deposit the amount and interest came to light during surveys conducted by tax authorities earlier this week. The realtor did not respond to a query sent by TOI on Tuesday.
For Indian Oil, the liability was estimated at Rs 3,200 crore, the finance ministry said, without naming the PSU. There was a short deduction of tax by the oil major pertaining to TDS for several years on payment of “fee for technical services for installation and maintenance of hi-tech oil refineries, payments for chemical process of re-gasification and transportation of LNG”, the department said.
In case of BSNL, which recently received a government bailout, the surveys have accused the company of deducting 2% tax instead of 10%, the applicable rate for professional services. In a statement, the tax department said the default by “a major telecom company operator” was estimated at Rs 324 crore.
Surveys were also undertaken on two leading hospitals, with one of them found to be not deducting tax on construction contracts, while the second one was undertaking 10% TDS on “salary paid to doctors” instead of the mandated 30%, CBDT said. All put together, the liability added up to Rs 3,800 crore, including those of the two PSUs and Parsvnath.
