The Indian Economic Times reported yesterday that the amount of disputed corporate tax liability reported in India is on the increase.
Citing recently released figures from the Centre for Monitoring the Indian Economy (CMIE), the newspaper revealed that:
'For the year ended March '02, Indian listed companies had more than Rs28,000 crore of disputed tax liabilities. This was up almost 40% from the disputed liabilities of around Rs 20,000 crore in '00-01.'
According to the CMIE figures, more than 50% of the total disputed tax liabilities were attributed to government agencies, although the private sector has also seen a large jump in disputed taxes.
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