Income Tax : Why does tax evasion still thrive despite all the efforts to stop it? And more importantly, what can be done to fix it? This blog ...
Income Tax : Learn the key differences between tax avoidance and tax evasion in India, legal provisions, real-world cases, and government measu...
Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...
Income Tax : This blog will examine the causes of tax evasion in India, the effects it has on society, and possible remedies to guarantee a mor...
Corporate Law : Updating circle rates to match market value can reduce tax evasion, black money, and cash transactions in real estate, ensuring tr...
CA, CS, CMA : Government surveys tax evasion, improves services, and details state-wise tax collections, highlighting growth in direct and indir...
Goods and Services Tax : Details of GST evasion cases by cryptocurrency exchanges in India, including investigations and actions taken by the Government of...
Goods and Services Tax : DGGI reveals over 6,000 fake ITC cases, ₹57,000 Cr GST evasion, and 500 arrests from April 2020 to September 2023. Explore the f...
Goods and Services Tax : We need to better utilize AI, data-analytics, IoT and other technologies to identify fraudulent practices, such as detection of ta...
Goods and Services Tax : Centralized suspension of registrations pertaining to registered persons who default in timely filing of returns is being carried ...
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...
Income Tax : Since the penalty was reduced from 300% to 100% of the tax sought to be evaded, assessee was entitled to the benefit of Section 27...
Goods and Services Tax : CGST, Vadodara, upon intelligence developed through data analysis, have booked a case of issuance of fake invoices valued at Rs. ...
Goods and Services Tax : DGGI arrested a managing Director (MD) of a company Following intelligence developed by the officers that fake invoices were recei...
Goods and Services Tax : The officers of Daman Cornmssionerate have detected a case of default in GST payment against Mrs Radha Madhav Corporation Limited ...
Goods and Services Tax : The registration procedure under Goods and Services Tax Act is simplified with the objective of ease of doing business. After onli...
Excise Duty : Circular No. 1009/16/2015-CX Whoever commits any of the offences specified under sub-section (1) of Section 9 of the Central Exci...
The party could end soon for domestic and multinational companies that do tax planning only to avoid paying taxes in India. The government is set to usher in the next stage of reforms in taxation, framing anti-abuse rules that will empower tax authorities to lift the corporate veil and look for what are called `avoidance’ […]
The I-T Department is probing tax evasion to the tune of Rs 800 crore by some stock brokers who are believed to be diverting profits, earned on trading in NSE, BSE and commodity markets, to “non-deserving” clients through manipulation of client specific codes. Sources said profits earned or losses suffered by individual market players are […]
At present, the tax, which is levied on inter state sale of goods, is at 2%. It was scheduled to be reduced by another 1%, starting April 1, 2009. At the time, the rate cut was postponed on account of the general elections and the Election Commission’s code of conduct. Recently, the empowered committee of state finance ministers wrote to the Union finance ministry recommending that the tax should be completely withdrawn when GST kicks in, as there is massive evasion of VAT (which goes to the states’ coffers).
Mumbai: Investigations into the seizure of Rs 90 lakh during nakabandi by the MRA Marg police last week have revealed that the money was sent by commission agents who ran a courier service. The money was sent from Latur and Nanded to Mumbai. The seized cash belonged to small-time businessmen who had given the money to […]
13. Amendment to the provisions of sub-section (3) of section 40A of the Income-tax Act 13.1 Clause (a) of sub-section (3) of Section 40A of the Income-tax Act, 1961 provides that any expenditure incurred in respect of which payment is made in a sum exceeding Rs.20,000/- otherwise than by an account payee cheque drawn on […]
Tax evasion in Mumbai may now become more difficult as taxpayers will have to deal with a cyber-savvy income-tax department. The IT department has recently adopted a technology to track down fraudulent electronic transactions even after they are deleted from computers. The department has a Cyber Forensic Lab in Mumbai that consists of advanced technological […]
The anti-corruption wing of the Central Bureau of Investigation (CBI) on Wednesday arrested a chartered accountant (CA) and a tax consultant for demanding a bribe of Rs 6 lakh from a 70-year-old woman to get her case settled at the Income Tax (I-T) office. The CBI who initially had also registered a case against a […]
This could be one the biggest admission of tax evasion by an individual in recent times. Munir Khan, who describes himself as a`scientist’ and has a medicine for all incurable diseases, on Friday paid Rs 22 crore as tax on his income for the current financial year. According to sources, the assessment wing of the […]
The Department of Sales Tax has issued 1 lakh notices to traders in the last two months for tax evasion. It has also filed 431 FIRs against them for not filing returns. Raids, surveys and business audits have been further intensified. Sources said that hundred of crores of bogus bills and hawala transactions have been unearthed by the department while spreading its dragnet for tax evaders.
The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and served a notice on him for evading taxes. According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the […]
