Tax Evasion
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Crackdown on corruption! Govt's big move against tax evasion, benami property. How to file complaint
Income Tax | Jan 13, 2021, 05:28 PM ISTThe Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website of the department to receive and process complaints of tax evasion, foreign undisclosed assets as well as grievances regarding benami properties.
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Massive crackdown on GST evaders: Govt takes action against 7000 entities; 5 CAs among 187 arrested
Business | Jan 03, 2021, 10:55 PM ISTIn a massive crackdown on GST evaders, the government has initiated action against 7,000 entities including the arrest of 187 -- a campaign that contributed to buoyancy in tax collection.
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I-T Dept detects over Rs 700 cr tax evasion after raids against Chennai's Chettinad Group
Business | Dec 15, 2020, 06:50 PM ISTThe Income Tax Department has detected tax evasion of more than Rs 700 crore after it recently raided multiple locations of Chennai-based Chettinad Group, the CBDT and official sources said on Tuesday.
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GST investigation arm unearths Rs 40 crore tax evasion by pan masala/gutkha manufacturing unit
Business | Jul 01, 2020, 03:47 PM ISTThe GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital. The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital.
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I-T raids on Tamil Nadu superstar Vijay, Bigil producer unearth Rs 300 crore suspected evasion
India | Feb 06, 2020, 11:54 PM ISTIncome Tax sleuths have unearthed Rs 300 crore suspected evasion during raids on premises linked to various Tamil film personalities including superstar Vijay, producer of blockbuster 'Bigil' and several hideouts of a financier of the film.
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Officials detect Rs 1.5 cr GST evasion by Kanpur's pan masala company
India | Sep 28, 2019, 08:33 PM ISTA GST evasion to the tune of Rs 1.5 crore by a Kanpur-based pan masala company, A J Sugandhi Pvt Ltd, was detected by officials during search operations.
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Tax evasion will soon be impossible; govt prepares several measures
Business | Jul 08, 2019, 08:17 AM ISTAccording to the Union Budget for 2019-20, filing of returns has been made compulsory for those who deposit more than Rs 1 crore in a current account in a year, spend more than Rs 2 lakh on foreign travel or have an annual electricity bill of more than Rs 1 lakh. The official data reveals 6.86 crore income tax returns (ITRs) were filed in 2017-18 registering a growth of 23 per cent over the previous year.
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New compounding rules make it difficult for tax evaders to get away
Business | Jun 15, 2019, 07:19 PM ISTThe new guidelines will kick in from June 17, 2019, and apply to all cases for compounding received on or after this date.
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I-T department attaches Geelani's Delhi house on wilful tax evasion charges
India | Apr 01, 2019, 06:40 PM ISTThe department has undertaken the action under section 222 of the I-T Act (assessee deemed in default of tax payment) and "prohibited and restrained" the Hurriyat Conference leader from transferring the asset.
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Now earn up to Rs 5 crore for providing info to Govt on benami properties, black money
India | Jun 01, 2018, 05:08 PM ISTThis comes as the government on Friday launched three new reward schemes under which a person can get up to Rs 5 crore for information on tax evasion and 'benami' (proxy) transactions and properties.
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CBDT forms committee to study cases of rich Indians escaping abroad
Business | Apr 05, 2018, 04:09 PM ISTThe group will also "make recommendations for policy decision in respect of tax risks of the migrating HNIW population".
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130 premises of south India-based jewellery chains searched by I-T for alleged tax evasion
India | Jan 10, 2018, 01:04 PM ISTI-T raided 130 premises of the business houses in Chennai, Hyderabad, Thrissur and locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, sources said.
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Bitcoin investments to attract capital gains tax, over 4 lakh HNIs in I-T dock for tax evasion
Business | Dec 19, 2017, 09:48 AM ISTSuspected black money being converted into white, post demonetisation, through bitcoins was also under the I-T’s scanner, officials said.
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In first big offensive, I-T sleuths swoop down on Bitcoin exchanges across India
Business | Dec 13, 2017, 02:24 PM ISTVarious teams of I-T sleuths today visited the premises of nine such exchanges in the country including in Delhi, Bengaluru, Hyderabad, Kochi and Gurugram, since early morning.
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I-T crackdown on Sasikala: 5-day-long raids reveal Rs 1,430 cr tax evasion by kin, associates
India | Nov 13, 2017, 10:36 PM ISTOn Thursday, a team of around 1,800 IT officials knocked at the doors of 187 premises -- residences and offices and farmhouses -- to carry out one of the biggest income tax searches on Sasikala's kin and associates.
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BRICS countries vow to combat tax evasion with information exchange
World | Sep 04, 2017, 03:37 PM ISTIndia, China and three other members of the BRICS grouping today pledged to exchange tax information to address the problem of tax evasion and provide technical assistance to other developing countries
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Info on tax data from Switzerland to India expected from 2019, says Swiss President Doris Leuthard
Aug 31, 2017, 08:54 PM ISTIndia is expected to get in 2019 the first batch of data relating to tax from Switzerland under a new framework for automatic exchange of information
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Ex-CFO accuses PwC of tax evasion and falsifying accounts in defamation suit: report
Jul 25, 2017, 04:26 PM ISTThe complaint accuses his former employer of cooking books, evading tax, wilfully breaking several laws and then intimidating, cheating and tarnishing his name when he refused to comply
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India signs pact with 67 countries to check tax evasion by multi-nationals
Jun 08, 2017, 07:13 PM ISTFinance Minister Arun Jaitley on Wednesday signed the multilateral convention, an outcome of the OECD/G20 Project to tackle base erosion and profit shifting
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Tax evasion of more than Rs 1.37 lakh crore detected in last three years
Apr 07, 2017, 02:11 PM ISTIn the last three fiscal years, the Revenue Department has detected tax evasions of more than Rs 1.37 lakh crore in both direct and indirect taxes.