Lok Sabha Question No. 1318 (UNSTARRED), answered on 2019-11-25
Subject: Advance Tax Payment
Ministry: FINANCE
Asked by: K. Shanmuga Sundaram

## GOVERNMENT OF INDIA MINISTRY OF FINANCE

## DEPARTMENT OF REVENUE

## TO BE ANSWERED ON MONDAY THE 25 TH  NOVEMBER, 2019

## LOK SABHA UNSTARRED QUESTION NO. 1318 AGRAHAYANA 04, 1941 (SAKA)

## ADVANCE TAX PAYMENT

1318: SHANMUGA SUNDARAM K

Will the Minister of FINANCE be pleased to state:

- (a)  whether  the  data  released  by  the  Government  reveals  that  only  top  500  corporates  in  the country pay 70 per cent of advance tax out of the total amount due;
- (b)  if so, the total amount of advance tax targeted and collected during the past three years and the current year; and
- (c)  the  steps  taken  by  the  Government  to  collect  the  residual  unpaid  advance  tax  by  the companies?

## ANSWER MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI ANURAG SINGH THAKUR)

- (a)   Yes, Sir.  The collections of Advance tax in Financial Year 2016-17, 2017-18, 2018-19 & for current financial Year upto 16.11.2019 show that top 500 corporates paid approximately 70% of total corporate advance tax collected in these Financial Years.
- (b)  There  are  no  targets  for  Advance  Tax  separately  although  there  are  targets  for Corporation Tax for the Financial Year.  The total Advance Tax collected from corporates as well as collection from  top 500 Tax Corporates in the last three financial years and current Financial Year 2019-20 is given as below:
- (c)  The payment and collection of Advance Tax by the companies is monitored by respective field  authorities  and  supervised  by  the  superior  authorities  periodically.    Information available through Annual Information Report (AIR), Intelligence & Criminal Investigation (I  & CI) & other agencies is utilized for advance tax monitoring.  Multimedia campaigns including SMSs are used to sensitize taxpayers for compliance regarding Advance Tax payments.

| Financial year   | Total Corporate Advance Tax collected ( Rs. in crores)   | Advanced Tax paid by top 500 Corporates (Rs. In crores)   | %of tax paid by top 500 Corporate out of total Corporate Advance Tax   |
|------------------|----------------------------------------------------------|-----------------------------------------------------------|------------------------------------------------------------------------|
| (1)              | (2)                                                      | (3)                                                       | (4)                                                                    |
| 2016-17          | 334136                                                   | 239685                                                    | 71.3                                                                   |
| 2017-18          | 366980                                                   | 254550                                                    | 69.4                                                                   |
| 2018-19          | 416209                                                   | 288860                                                    | 69.4                                                                   |
| 2019-20*         | 183470                                                   | 131929                                                    | 71.9                                                                   |

*up to 16.11.2019

**Source: Directorate of Systems

******