CA, CS, CMA : ITIRS 2018 encourages citizens to report substantial tax evasion, guaranteeing confidentiality and structured rewards. False repor...
Income Tax : The CBDT's Income Tax Informants Reward Scheme 2018 offers rewards up to ₹5 crore for specific, written information leading to t...
Income Tax : An in-depth analysis of how agricultural income tax exemptions are used for evasion, with suggestions to curb misuse and protect s...
Income Tax : The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in ou...
Income Tax : To achieve the dream of $5 Trillion Economy by 2024 , Finance Minister present its 1st budget of this Decade with substantial ch...
CA, CS, CMA : Over ₹6.34 lakh crore in unpaid taxes linked to untraceable defaulters. Govt takes measures like asset tracking and account free...
Goods and Services Tax : DGGI blocks 357 illegal gaming websites, freezes Rs. 126 crore across 2,400 accounts, and cautions public against offshore online ...
Income Tax : Finance Minister exhorted Income Tax officers to be prompt in redressing the grievances of the tax payers and to deal firmly with ...
Income Tax : The disclosure of information respecting assesses under Section 138 does not, in general, prohibit furnishing of information about...
Fema / RBI, Income Tax : The present Government has taken various decisions and steps to curb the menace of black money both within and outside the country...
Goods and Services Tax : Saurabh Jindal & Yashik Jindal Vs Union Of India (Rajasthan High Court) In a significant legal development, the Rajasthan High...
Custom Duty : Explore the detailed analysis of the judgment in Babulal Qazi vs Union of India by Rajasthan High Court. Learn about the legal int...
Goods and Services Tax : Explore the full text of the Rajasthan High Court judgment on Mohammad Shadab Kadris bail application amid GST Act violations. Leg...
Goods and Services Tax : Explore the detailed analysis of the bail granted to Mohammed Ali Akram Khan vs Union of India by Rajasthan High Court. Learn abou...
Service Tax : Mere suppression of facts was not enough and there must be a deliberate and willful attempt on the part of the assessee to evade p...
The love towards money can lead to problems like demonetarization of currency etc which can further lead to more tax evaders in our society.
To achieve the dream of $5 Trillion Economy by 2024 , Finance Minister present its 1st budget of this Decade with substantial changes in Direct Taxes, policy for leveraging of technology, Infrastructure development projects. One of such changes is ,omission of existing and introduction, of below specified section`s under Income Tax Act:- 1. This Union […]
Finance Minister exhorted Income Tax officers to be prompt in redressing the grievances of the tax payers and to deal firmly with Tax evaders
Tax Authorities around the world are facing the challenge as to determine the policy which will be most effective for long term voluntary compliance from taxpayers. The debate revolves around those who think that penalties and sanctions are necessary and those who think that gentle persuasion is enough.
Abstract As we all are well aware of the term ‘Tax’ which is defined as a revenue that is levied on the people by the Government based on their income and the commodities they purchase or sell. Evasion of Tax has always been considered to be an illegal action and people with greed often engage […]
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 […]
The disclosure of information respecting assesses under Section 138 does not, in general, prohibit furnishing of information about tax evaders.
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
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.
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.
