Tax Evasion

Saturday, Apr 20, 2024 | Last Update : 11:42 AM IST

Sonu Sood, associates evaded Rs 20 cr tax, violated FCRA: IT department

The department statement also talked about his charity organisation that was established during the COVID-19 outbreak last year

18 Sep 2021 1:34 PM

Liu Zhongtian, 55, and China Zhongwang Holdings Ltd, where he served as chairman and president, were among several defendants charged in a 24-count indictment by a Los Angeles grand jury. (Photo: AFP)

Chinese billionaire indicted in USD 1.8 billion tariff evasion scheme in US

He evaded tariffs by smuggling huge amounts of the metal into the United States, federal prosecutors said.

01 Aug 2019 3:24 PM

Nirmala Sitharaman spoke on the on-going efforts of Indian Government to counter tax avoidance & evasion, finance ministry tweeted.

Sitharaman highlights India's efforts to counter tax avoidance, evasion

The meeting of the finance ministers would deliberate on issues protectionism and its implication on global growth, trade.

08 Jun 2019 3:22 PM

A CbC report aggregates country-by-country information relating to the global allocation of income, taxes paid, and certain other indicators of an MNC. (Representational Image)

India notifies pact with US to check tax evasion by MNCs

This information will enable an enhanced level of assessment of tax risk.

29 Apr 2019 3:50 PM

Going forward, businesses will be required to generate full electronic-tax invoice or e-invoice recording entire value of sales.

GST e-invoice generation system on govt portal on anvil to reduce tax evasion

The proposed system of e-invoice will eventually replace the requirement of a generation of e-way bill for movement of goods.

28 Apr 2019 2:06 PM

This agreement for exchange of CbC reports, along with the Bilateral Competent Authority Arrangement, will enable both the countries to automatically exchange CbC reports filed by the ultimate parent entities of multinational enterprises (MNEs) in the respective jurisdictions, pertaining to the years commencing on or after January 1, 2016, a Finance Ministry statement said.

India-US sign pact for exchange of reports to check tax evasion by MNCs

The agreement was signed by Central Board of Direct Taxes Chairman PC Mody and US' ambassador to India Kenneth Juster.

27 Mar 2019 4:29 PM

The taxpayer can import data in his GSTR-1 form or import the same and use it with GSTR-1 offline tool to create his GSTR-1 Return Form. (Photo: ANI)

GSTN develops system to fetch e-way bill data to curb evasion

In last 18 months, around 90 per cent of taxpayers have reported up to 50 B2B and B2C large invoices in a month.

30 Jan 2019 5:08 PM

The taxmen carried out analysis to identify non-filers about whom specific information was available in the database of the income-tax department.

High value buys tip off taxmen about evasion

The department is identifying the non-filers of income-tax returns through Non-Filers Monitoring System (NMS) by using data analytics.

23 Jan 2019 1:24 AM

Integration of e-way bill with FASTag would help find the location of the vehicle and when and how many times it has crossed NHAI's toll plazas.

E-way bill to be integrated with NHAI's FASTag to track GST evasion from April

FASTag also offers non-stop movement of vehicles through toll plazas.

15 Jan 2019 3:40 PM

Of the total recovery, Rs 3,124 crore was from GST evaders, followed by Rs 2,174 crore in case of service tax.

Rs 29,088 crore indirect tax evasion detected during April-Oct

The total number of cases where service tax was evaded stood at 1,145 involving Rs 22,973 crore.

21 Nov 2018 3:36 PM

The I-T department had earlier issued notices to over 80 stock brokers after it found tax evasion.

I-T Dept suspects massive tax evasion via derivative trading

The I-T department had last year detected bogus capital gain of about Rs 80,000 crore.

18 Oct 2018 8:50 AM

Officials said a team of sleuths raided the residence of Bahl in neighbouring Noida early morning and are looking for documents and other evidence related to the case under probe. (Photo: Twitter)

I-T dept searches premises of media baron Raghav Bahl

Bahl is the founder of the Quint news portal and the Network18 group and is a known media entrepreneur.

11 Oct 2018 10:52 AM

Forbes ranked Trump's fortune at 259 in the world, down from 248 the year he was elected president. (Photo: File)

Trump shrugs off report revealing fortune in tax dodges, parental gifts

Trump has often boasted that he built a multi-billion dollar real estate empire from a USD 1 million loan from his father.

04 Oct 2018 8:50 AM

Despite the poor response to the first free return filing facility put up by the tax department in the city, the CGST commissionerate is ready to open more such centres to help better tax compliance and timely filing, a senior official said on Friday.

CGST commissionerate ready to open more return filing centres

The first tax return facility was rolled out in partnership with the Western regional council of the Institute of Chartered Accountants.

14 Sep 2018 8:01 PM

The revenue department has created the office of Commissioner GST (Investigation) to deal exclusively with enforcement issues like search, seizure and arrest, as it looks to crackdown on tax evaders. (Photo: PTI)

Govt sets up office of GST Commissioner to deal with tax evasion

Initially, the government was going slow on enforcement action to give time to the industry to adjust to the new tax regime.

12 Sep 2018 4:35 PM

Annual tax return is consolidation of the monthly returns being filed by assesses and it will completely expose the financial transactions before the revenue department.

GST annual return forms to help check tax evasion: experts

The last date for filing annual return form for normal taxpayers GSTR-9 and for GSTR-9A is December 31.

06 Sep 2018 3:39 PM

'About Rs 100 crore cash, which is suspected to be unaccounted, and bullion and gold jewellery weighing about 90 kg has been recovered so far. The raids are still on,' a senior official said in Chennai. (Photo: File | Representational)

Rs 160 Cr cash, 100 kg bullion recovered after I-T raids on TN contracting firm

The searches were launched on premises of Ms SPK and Company, partnership firm engaged in road-highway construction, on contract from govt.

17 Jul 2018 8:10 AM

The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months. (Photo: PTI)

Rs 2,000 crore GST evasion unearthed in 2 months

Only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes.

27 Jun 2018 4:26 PM

An arrest warrant has been issued against absconding diamantaire Nirav Modi in connection with the case of evasion of Customs duty, registered by the Directorate of Revenue Intelligence (DRI).

Arrest warrant issued against Nirav Modi in customs evasion case

The warrant was issued under Section 70 of the Code of Criminal Procedure Act, 1973.

25 Jun 2018 11:25 AM

Sharing "specific information" with the income tax department about any benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore.

Be an informer to I-T department and earn up to Rs 5 crore

This reward scheme is aimed at encouraging people to give information about benami transactions and properties.

01 Jun 2018 4:16 PM

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Shobhaa De

tax evasion