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Saturday, April 28, 2012

Corporates got tax sops worth Rs 88,263 crore in 2010-11

Tax exemptions cost the Government Rs 1,38,921 crore in revenues in 2010-11, says CAG report on direct taxes. The Comptroller and Auditor General said that corporate sector accounted for 63.5 per cent (Rs 88,263 crore) of the revenue foregone of 2010-11.