Tax Evasion: Latest News and Updates, Top Stories, Videos, Photos About Tax Evasion

Rs 8,100 Crores Tax Evasion Detected In The Country

Authorities have detected GST evasion to the tune of more than Rs 8,100 crore and it has been found that the offence was carried out through 4,909 bogus business establishments spread in parts of the country, a tax official from Madhya ...

Income Tax Dept Raids Mankind Pharma Over Tax Evasion Allegations, Shares Fall

The Income Tax department on Thursday conducted searches on the premises of Mankind Pharma over allegations of tax evasion, official sources said. According to a PTI report, the department is searching the company premises in Delhi and nearby locations, documents are ...

HDFC Bank, Go Digit, Policybazaar Get Notices From DGGI Over Tax Evasion Worth Rs 2,250 crore

The Directorate General of GST Intelligence (DGGI) has sent show-cause notices to some insurance companies, including HDFC Bank, Go Digit Insurance, and Policybazaar, for faking invoices in order to claim input tax credit without providing any service as per The Economic ...

Income Tax Department Conducts Search Operations On 2 Real Estate Developers

The Income Tax Department initiated search and seizure operations on two major real estate developers of Ludhiana. The search action covered around 40 premises in Ludhiana. The major finding emanating from these search and seizure operations of both the groups is ...

Jharkhand: IT Department Discovers Multi-Crore Tax Evasion

The Income Tax Department discovered a multi-crore rupee tax evasion after raiding a Jharkhand-based group involved in the business and sale of sponge iron and iron ingots and bars, according to the CBDT on Monday. The Group was manufacturing and selling ...

India Is Losing Over Rs 75,000 Crore Every Year In Tax Revenue Due to Evasion: Report

India is losing over $10.3 billion (about Rs 75,000 crore) in taxes every year due to global tax abuse by MNCs and evasion by private individuals, said a report on Friday by the State of Tax Justice, published by the Tax ...

Income For FY2019-2020 Below Taxable Limit: You May Still Need To File ITR

From the fiscal year 2019-20, in a bid to clamp down tax evaders, the centre has enhanced the criteria for filing income tax return and consequently in some cases even individuals with income below taxable limit may be liable to ...

No Changes In ITR Forms; Taxpayers Not To Provide High Value Transaction Details

As per sources from the finance ministry, there is no deliberation over implementing changes in the income tax return forms. Also, taxpayers won't need to lists out high value transactions in their income tax returns (ITRs). Further the sources ...

Wilful Tax Evasion To Result In Jail For Up To 7 Years

Tax evasion, underreporting of income or even skipping from payment of penalty or interest chargeable is an offer as per the Income tax Act and this may land the person involved in jail depending on the amount of tax evaded or ...

Income Tax Liability Limit To Get Prosecuted Increased

In the Budget 2019 speech, Finance Minister Nirmala Sitharaman said that the government has proposed certain measures to simplify the tax law to reduce hardships for small taxpayers. One such measure was to increase the threshold limit for tax that could ...

SGBs New Tranche Opens At An Issue Price Of Rs. 3443/gm; Partially Offsets Customs Duty Hike

While the FM in her maiden Budget 2019 speech has announced customs duty hike on gold from 10% to 12.5% to curb imports of physical gold, the government simultaneously has introduced a new tranche of sovereign gold bonds. The issue price ...

Budget 2019: This Is How Govt Plans To Curb Tax Evasion With Pre-Filled ITR

The Union Budget 2019 made an announcement that pre-filled income tax return forms will be provided to taxpayers and this shall ease the process of accurate filing of a tax return. The pre-filled data will include all such details such as ...

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