Page 2 Tax Evasion: Latest News and Updates, Top Stories, Videos, Photos About Tax Evasion

8 Points On The New Tax Rules On Penalty Against Black Money & Benami Property

The Central Board of Direct Taxes (CBDT) recently revised its guidelines to make serious offences under black money and benami laws accountable. Those indulging in these activities will not be able to get away just by paying off a penalty fee. Here ...

Tax Default, Black Money Cases Can No More Be Settled Just By Paying Penalty

The new tightened guidelines issued by the Income Tax Department, effective from 17 June 2019, have made serious offences under the Black Money and Benami Law, generally non-compoundable. It means that from now on, a person or entity cannot settle such ...

HPCL, IOC Stocks Fall On Tax Evasion Reports

Hindustan Petroleum Corporation (HPCL) shares cracked by over 2% after reports of excise duty evasion by the oil major made the rounds. The stock in intra-day session hit a low of Rs. 317.10, down 2.2% over the previous close of Rs. ...

Manpasand Beverages Hits Lower Circuit Of 20% Again For Second Straight Trading Day

The Vadodra based-fruit juice making company, Manpasand Beverages, after hitting a lower circuit in Monday's session, tanks again by 20% on governance issues. And due to corporate issues hitting the company, several of the independent directors put their papers. Also, the company ...

Manpasand Beverages Stock Cracks 20% After Top Executives Arrested In GST Invoice Fraud

Manpasand Beverages in the opening session on Monday cracked as much as 20% after 3 of the company's top executives were arrested by the GST department for producing fake company units and indulging in tax evasion. As per the press released of ...

Govt Cracks Down Small Restaurants And B2C Companies For GST Non-Payment

Several of the customers have filed a complaint that Goods and Services Tax has been levied by small restaurants as well as B2C entities but the same is not being deposited with the government. Customers have been addressing their grievance over ...

Finance Ministry Introduces Changes In E-Way Bill System

To check GST evasion, the finance ministry has rolled out changes in the e-way bill system deemed as an anti-evasion measure. During the April-December period last year, as many as 3,626 cases of GST violation or evasion have been detected that ...

IT Dept To Check Tax Evasion Through Project Insight This FY

The Income tax department in the FY20 will go on a full swing to clamp down tax evaders through its Project Insight initiative. For it, the department's IT infrastructure that incorporates big data and data analytics for thoroughly profiling assessees has ...

Earn Rs. 5 Crore By Disclosing Benami Transaction And Black Money Through IT Dept Scheme

With its newly announced "Income Tax Informants Reward Scheme, 2018" that supersedes all previous schemes by the tax department, tax informants or individuals who help the Centre unearth black money stashed abroad or report any benami transaction or property, will be ...

Income Tax Dept. To Scrutinise High Value Suspicious Transactions Of Rs. 33,000 Crore

PAN and aadhaar linking ideated to find out individuals with multiple PANs or avoid instances of tax evasion has unearthed some high value suspicious transactions valued at Rs. 33,000 crore which shall now be dealt against by the tax department if ...

IT Dept Warns Against Under-Reporting of Income by Salaried Individuals

In an advisory uploaded on the Income Tax (IT) e-filing website on Wednesday, the IT department has warned salaried taxpayers that under-reporting their income or inflating their exemptions/deductions while filing income tax returns is a punishable offence under the Income Tax ...

E-way Bill Mandatory For Iinter-State Movement Of Goods From April 1

After the initial failure to implement e-way bill from February 1 due to technical glitches encountered in generating permits, businesses and transporters carrying goods worth more than Rs. 50000 from one state to another need to carry e-way or electronic bill ...

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