Tag Archives: Tax Evasion

More Than Rs. 1.37 lakh crore of Tax Evasion Detected by Govt of India

By | April 7, 2017

Department of Revenue, Ministry of Finance achieves phenomenal success towards eliminating Domestic Black Money in last three years; 23064 searches/surveys have been conducted (Income Tax 17525; Customs 2509; Central Excise 1913; Service Tax 1120); More than Rs. 1.37 Lakh Crore of tax evasion has been detected (Income Tax 69434; Customs 11405; Central Excise 13952; Service… Read More »

Ways to Convert Black money into white used by Indians

By | November 11, 2016

Ways to Convert Black money into white used by Indians as per Indian Govt White Paper on Black Money 1 Manipulations of Accounts for Tax Evasion Any transaction entered into by the taxpayer must be reported in books of account which are summarised at the end of the year in the form of financial statements. The… Read More »

Govt steps to tackle tax evasion

By | May 8, 2016

Press Information Bureau Government of India Ministry of Finance Date: 06-May-2016 Capital Gains Tax Appropriate action against tax evasion, including evasion of tax on capital gains, is an on-going process. Whenever such cases are noticed by the Income Tax Department, appropriate action is taken under direct taxes law. Such action is not dependent upon a… Read More »

Informers of Tax Evasion ,Guidelines for Grant of Rewards

By | April 29, 2016

Guidelines for Grant of Rewards to Informers of Tax Evasion The details with regard to guidelines in respect of rewards to informers of tax evasion are: Direct Taxes:- Any person who provides specific information with respect to evasion of direct taxes and such information helps in detection of undisclosed income and/or seizure of undisclosed cash,… Read More »