tax evaders

Budget 2017: Budget of Tax Terrorism; Makes Tax Law more Complicated

Income Tax - Income-Tax Law Has Been Made More and More Complicated In Every Budget Mr. Modi Govt. in Budget 2017 has made the Income-Tax law more complicated. On One side Income-Tax Deptt. says that only assesses e-mail address should be provided to enable them to file returns voluntarily. On the other hand, CBDT amending Income-Tax law in […]...

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Lovers of Money and tax non-compliance society

Income Tax - The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in our society....

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The Income Declaration Scheme, 2016- An Overview

Income Tax - Few Words about the scheme:- i. The Income Declaration Scheme,2016 is incorporated as Chapter IX of Finance Act 2016 and is covered in section 181 to section 199. ii. It shall come into force on 1st day of June 2016...

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Unearth Black Wealth and Buy Peace- IDS, 2016

Income Tax - India is moving towards a lower tax regime with non-litigious approach. Thus, while compliant taxpayer can expect a supportive interface with the department, tax evasion will be countered strongly. Capability of the department to detect tax evasion has improved because of enhanced access to information and availability of technology....

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Krishna at Rescue of Tax Evaders in Income Declaration Scheme 2016

Income Tax - Arjun: Who can participate in Income Declaration Scheme 2016 (IDS) introduced under Finance Act, 2016 by the Indian Government? Krishna: Following is a list of people, - Every Indian Resident who is guilty of his practices of tax evasion and wants to confess the same....

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Disclosure of information of Income Tax Evaders

Income Tax - The disclosure of information respecting assesses under Section 138 does not, in general, prohibit furnishing of information about tax evaders. ...

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Steps taken to curb Black Money within & outside the country

Income Tax - The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below:...

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Plans to render black money & fake notes circulation ineffective

Income Tax - The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective are as under: -...

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Arrest Limit increased in case of outright smuggling or mis-declaration of baggage

Income Tax - In cases of outright smuggling or mis-declaration of baggage, the limits regarding value of offending goods have been revised from Rs. 5 lakh to Rs. 20 lakh. As in the past, there shall be no lower limit for arrest and prosecution in the cases of smuggling of fake Indian currency notes, arms, ammunitions and explosives and endangered spec...

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IT dept shifts focus on Criminal Consequences in Serious Cases of Tax Evasion

Income Tax - Shift in the Focus of the Income Tax Department (ITD) from Civil Consequences to Criminal Consequences in Serious Cases of Tax Evasion; During 2014-15 (upto Dec, 2014) the ITD Has Conducted Searches in 414 Groups, Seized Undisclosed Assets of Rs. 582 Crore; Undisclosed Income of Rs. 6769 Crore has been Admitted by the Tax Payers […...

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Computation of undisclosed income in case no incriminating document was found during search

ACIT Vs Surindra Engg. Co. P. Ltd. (ITAT Mumbai) - Searches conducted by the Income Department are important means for unearthing black money. However, under the scheme before insertion of special procedure for assessment of search cases, valuable time is lost in trying to relate the undisclosed incomes to the different years. Tax evaders generally ...

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Recent Posts in "tax evaders"

Budget 2017: Budget of Tax Terrorism; Makes Tax Law more Complicated

Income-Tax Law Has Been Made More and More Complicated In Every Budget Mr. Modi Govt. in Budget 2017 has made the Income-Tax law more complicated. On One side Income-Tax Deptt. says that only assesses e-mail address should be provided to enable them to file returns voluntarily. On the other hand, CBDT amending Income-Tax law in […]...

Read More
Posted Under: Income Tax |

Lovers of Money and tax non-compliance society

The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in our society....

Read More
Posted Under: Income Tax |

Disclosure of information of Income Tax Evaders

The disclosure of information respecting assesses under Section 138 does not, in general, prohibit furnishing of information about tax evaders. ...

Read More
Posted Under: Income Tax |

The Income Declaration Scheme, 2016- An Overview

Few Words about the scheme:- i. The Income Declaration Scheme,2016 is incorporated as Chapter IX of Finance Act 2016 and is covered in section 181 to section 199. ii. It shall come into force on 1st day of June 2016...

Read More
Posted Under: Income Tax |

Unearth Black Wealth and Buy Peace- IDS, 2016

India is moving towards a lower tax regime with non-litigious approach. Thus, while compliant taxpayer can expect a supportive interface with the department, tax evasion will be countered strongly. Capability of the department to detect tax evasion has improved because of enhanced access to information and availability of technology....

Read More
Posted Under: Income Tax |

Krishna at Rescue of Tax Evaders in Income Declaration Scheme 2016

Arjun: Who can participate in Income Declaration Scheme 2016 (IDS) introduced under Finance Act, 2016 by the Indian Government? Krishna: Following is a list of people, - Every Indian Resident who is guilty of his practices of tax evasion and wants to confess the same....

Read More
Posted Under: Income Tax | ,

Steps taken to curb Black Money within & outside the country

The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country in last two years. Some of the major decisions and actions taken in this regard are given below:...

Read More
Posted Under: Income Tax |

Plans to render black money & fake notes circulation ineffective

The Government has not issued any guidelines regarding minimising daily financial transactions in cash to curb money laundering, black money and so on. However, the plans of Government to render black money and fake notes circulating in the market ineffective are as under: -...

Read More
Posted Under: Income Tax |

कर चोरी की मानसिकता क्यों? कभी सोचा !!

सरकार ने विभिन्न स्तरों पर टैक्स लगा रखे हैं, सरकार द्वारा प्रत्येक टैक्स विभाग में टैक्स की चोरी रोकने के लिए अन्वेषण अनुभाग बना ...

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Posted Under: Income Tax |

Arrest Limit increased in case of outright smuggling or mis-declaration of baggage

In cases of outright smuggling or mis-declaration of baggage, the limits regarding value of offending goods have been revised from Rs. 5 lakh to Rs. 20 lakh. As in the past, there shall be no lower limit for arrest and prosecution in the cases of smuggling of fake Indian currency notes, arms, ammunitions and explosives and endangered spec...

Read More
Posted Under: Income Tax |
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