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tax evasion News
No more GST, Income Tax evasion? Big warning for tax evaders from Modi government!
Sat, Dec 21, 2019
In a bid to ensure that no tax-evader go scot free, Modi government has directed tax officials to match GST data and income tax (I-T) returns of the taxpayers to scale up scrutiny.
Zee Business Exclusive: Tax evasion on radar of IT department
Tue, May 07, 2019
Tax evasion on Radar of IT department. Watch this video to know more.
Now, High-tech preparations to catch tax evasion
Wed, Apr 03, 2019
IT Department caught the tax evasion of Rs.15 Crores through the help of satellite pictures from Ghaziabad.
Tax evasion in India becomes more difficult
Tue, Mar 26, 2019
IT department's eye on you if you spend more than your income. Watch this video for deep details..
Money Guru: Ten smart techniques to save your tax
Tue, Jan 08, 2019
In this segment of Money Guru, know ten smart techniques to save your tax. Watch the video to know more.
Tax evasion crackdown: Proprietors, LLPs, HUFs under CBEC scanner now
Thu, Mar 22, 2018
According to the sources, preliminary scrutiny indicated that several newly created LLPs and HUFs as well as proprietary firms have claimed transitional credit for which they were not eligible. The CBEC has already asked chief commissioners to scrutinise all transitional credit claims of over Rs 1 crore. As part of transition to GST last July, taxpayers were allowed to file Form TRAN-1 and avail tax credit on the basis of closing balance of the credit declared in the last return under the pre-GST regime.
GST anti-evasion: Cess likely on pan masala at manufacturing stage
Sun, Jan 21, 2018
The Council will look at levying the cess at the manufacturing stage based on production capacity as against the current practice of imposing it on supplies made by the manufacturer
Govt to introduce reverse charge mechanism to check GST evasion
Mon, Jan 01, 2018
The controversial GST feature will reportedly help the government estimate turnover of small firms, and also prevent the firms from hiding their actual turnover and profits.
GST Council to meet tomorrow; discuss roll out of e-way bill
Fri, Dec 15, 2017
The all-powerful GST Council will meet tomorrow to discuss early implementation of e-way bill as well as ways to plug tax evasion.
Difference between Tax Planning, Tax Avoidance & Tax Evasion!
Tue, Sep 19, 2017
Tax planning is an art to reduce your tax outgo by making sure that all the applicable provisions of our income tax act as designed to reduce your tax liability has been availed of.
Govt may pull up tax evaders via social media posts from next month
Fri, Jul 28, 2017
To catch those who try to escape the taxman the government has been working on Project Insight which monitors people’s social media posts to match spending patterns with tax declarations.
6 steps Govt took to control Benami transactions
Wed, Jul 26, 2017
Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Rajya Sabha, mentioned about five big steps, the government took:
Reckitt Benckiser denies Oxfam claims of avoiding millions in taxes
Thu, Jul 13, 2017
British consumer goods giant Reckitt Benckiser Group said on Wednesday its tax structure and practices were in line with other global businesses, denying allegations of tax avoidance in developing countries, after charity group Oxfam levelled charges against it.
I-T department launches online facility to correct errors in PAN, Aadhaar
Sun, May 14, 2017
The Income Tax department has launched an online facility to correct errors in names and other details in permanent account number (PAN) and Aadhaar document.
CBI unearths 393 shell companies used to divert Rs 2,900 crore
Sun, May 07, 2017
According to sources, CBI has uncovered 393 shell companies which were used to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money.
April 30 last day to provide self-certification for account holders; here's what you need to know about FATCA
Wed, Apr 12, 2017
The Inter-Governmental Agreement (IGA) between India and USA was expected to come into force on August 31, 2015.
More than Rs 1.3 lakh crore of income tax evasion detected in three years: FinMin
Fri, Apr 07, 2017
The Ministry in a release mentioned that the three year period witnessed "unprecedented enforcement actions in direct & indirect taxes."
CBDT proposes norms for tax benefits for genuine equity deals
Tue, Apr 04, 2017
As per the Finance Act, 2017, the income arising by way of a transfer of long-term capital asset, being equity share in a company, will be exempt from tax if such transfer is undertaken after October 1, 2004 and chargeable to Securities Transaction Tax (STT).
India notifies amended tax treaty with Singapore; to impose capital gains tax at source of investments from April 1
Thu, Mar 23, 2017
The Finance Ministry on Thursday has notified the amended India-Singapore tax treaty under which capital gains tax will be levied at source of investments with effect from April 1.
Govt may table four GST bills in Parliament today, says Minister of State for Finance Arjun Ram Meghwal
Thu, Mar 23, 2017
Minister of State for Finance Arjun Ram Meghwal has said the government may table four GST supplementary legislations in Parliament on Thursday.