LIC tops the tax defaulter’s list

The list of top tax defaulters provided by the Income Tax department features Life Insurance Corporation of India at the top that has over Rs 7000 crore in tax demand pending against it. The list was provided by the Income Tax department in response to an RTI application by activist Subhash Agarwal seeking the list of top tax defaulters.

The tax demand raised by the department against LIC is of the assessment year 2010 which is pending “as on date”, the response furnished on January 27, 2014 said. In companies category, the top slot is given to LIC which also has biggest pending tax demand in all the other categories, according to the RTI reply.

The tax demand against LIC is Rs 7,027 crore which is followed by Rs 2,372 crore against Aditya Birla Telecom Limited, Rs 2,038 crore against Vodafone Infrastructure Limited, Rs 1,517 crore against Idea cellular and Rs 1,494 crore against Bharat Petroleum Corporation Limited.

Other companies with pending tax demand in the country include Nerka Chemicals Private Limited with Rs 1,354 crore, Tamil Nadu State Marketing Corporation with Rs 1,234 crore, Andhra Pradesh Beverages Corporation Limited Rs 1,228 crore, HDFC Bank Limited with Rs 1,051 crore and Indian Oil Corporation with Rs 874 crore, according to the reply.