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Latest Articles in tax evasion

GST: Tax Evasion Up To Rs 2 Crore A Bailable Offence

To make GST regime less onerous, the Centre and states have decided to water down the penal provisions to ensure a trader gets immediate bail if the alleged tax evasion is up to Rs 2 crore

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Tax Evasion Suspected In Rs 3-4 Lakh Crore Deposits Post Note Ban

As it analyses bank deposits post- demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes

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Apple CEO Says EU Tax Ruling 'Total Political Crap'

Cook says his company targeted because of 'anti-US bias', promises to work closely with Ireland to try to overturn the decision

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Income Tax Department To 'Name & Shame' Chronic Crorepati Defaulters

As part of its 'naming and shaming' policy to curb tax evasion, the Income Tax Department may soon go on to publish names of even those taxpayers who have a 'chronic' default of Rs one crore and above

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Officers Should Also Give 'Best Advice' To Tax Payers: CBDT

To clean up tax administration, CBDT Chairperson Rani Singh Nair on Tuesday promised that the tax department will try to create a regime where people could fearlessly walk up to officers to seek best possible advice

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Moderate Taxes, High Evasions Cannot Coexist, Says Finance Minister Arun Jaitley

The GST will ensure that taxation rates are moderate, which in turn will bring down the cost of doing business, thereby bringing down the cost for end consumers

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Declare Black Money By September 30 Or Face Action, Says PM Modi

Warning black money holders of stringent action including imprisonment after September 30, Prime Minister Narendra Modi has said those with undisclosed wealth, most of which is parked in jewellery and real estate, should come clean to sleep peacefully

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Black Money: Don't Want To Be Big Brother Watching, Says Arun Jaitley

Asking people to come clean on unaccounted wealth and live with 'heads held high', Finance Minister Arun Jaitley has said government is aware of sectors generating black money but it would be unpleasant to start the 'big brother watching' process

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90 Lakh High-value Non-PAN Deals Identified; Income Tax Department To Seek Details

Warning tax evaders that they own up high-value transactions, the Income Tax department on Thursday said it has identified 90 lakh such transactions carried out without quoting PAN and would issue as many as seven lakh letters seeking their details

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Black Money Declarants Cannot Pay Tax From Undeclared Income

The government has clarified that blackmoney declarants using the one-time compliance window cannot pay tax and penalty from undisclosed income to bring down their liability and such acts will not get any immunity

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Income Tax Department Carries Out Searches At Indiabulls Premises

The Income Tax Department on Wednesday carried out search operations at numerous offices and premises of Indiabulls Group including in Mumbai, New Delhi and Chennai for alleged tax evasion to the tune of about Rs 1,500 crore

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Sizable Dip In Indian Black Money Parked Abroad, Says Arun Jaitley

Finance Minister Arun Jaitley has said the Narendra Modi government's 'activism' against black money in the last two years has resulted into a 'sizable dip' in illegal assets stashed abroad by Indians

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Govt To Block PAN, LPG Subsidy Of Tax Defaulters

A number of punitive measures are being considered by the tax department to crack down on tax evasion

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FM Arun Jaitley Warns Of Action Against Tax Evasion

Finance Minister Arun Jaitley on Thursday warned of action against those passing off income from other sources as agriculture income but ruled out levying any tax on farm earnings

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50 Per Cent Of Smaller Firms Not Paying Taxes: Govt

Fifty per cent of the smaller firms are not paying taxes and the government is keeping a tab on such entities to ensure there is no tax evasion, the Lok Sabha was informed on Friday

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