Income tax returns (ITR) filing: What is tax evasion and how you can get into trouble
Income tax returns (ITR) filing: What is tax evasion? To ensure that you do not get into trouble inadvertently, you must get to know what this phrase is all about. Paying taxes is the duty of every citizen and under no circumstances should anyone stray from that fact.
If you are investing money and want to claim it against your income to save taxes, you need to be careful because monetary transactions are always under scanner. You must disclose all aspects of your income in a forthright manner. Your effort to evade taxes will lead to unlawful act and you will be punished for it according to law. Let us understand what is tax evasion and how it may affect us.