tax evasion Archives

The Income Tax Department has conducted raids in several states in connection with tax evasion against registered unrecognized political parties of India. Actually, News agency PTI has given this information by quoting the sources. According to official sources, all the registered unrecognized political parties are accused of tax evasion after raising suspicious funds. It is being told that this action has been taken on the recommendation of the Election Commission of India. However, nothing has been officially confirmed yet. Raids taking place in these states Sources close to the case said that meanwhile, the search operation is going on in various states including Gujarat, Delhi, Uttar Pradesh, Maharashtra, Haryana, and some other states. A coordinated action has also been initiate...

ArticleFinance

Is Tax Avoidances Legal In India? Lets Check Out

Pooja YadavApril 14, 20220

The tax could be a source of revenue for a government of a rustic, through which it endeavours to produce better infrastructure, the standard of living and security for its inhabitants. However, these taxes can sometimes be available in the way of personal development of people or an organization and further push these individuals and huge business houses to contemplate the way to avoid the identical by using loopholes within the laws and guidelines that govern the taxes. Indian government has always been proactive in closing and fixing loopholes within the tax laws and its structure through budget, amendments, guidelines and treaties with various countries. However, government during this regard is usually two steps behind the big business houses in India According to a paper...

ArticleNewsPolitics

Why Do PANDORA PAPERS Matter? What Do They Reveal?

SinshaOctober 19, 20210

A few days ago, the ICIJ (International Consortium of Investigative Journalists) revealed the Pandora Papers. These documents contain the names and financial activities of numerous influential and ultra-rich people. There are over 300 Indian citizens too, varying from billionaires to top government officials, celebrities, public figures, and sportsmen. The word "Pandora" is derived from the expression- ‘Pandora's box’ of Greek mythology which essentially denotes a source of unseen trouble. What are the Pandora papers? What do they reveal? They are 11.9 million leaked files from global corporate services firms. These documents reveal the ultimate ownership of assets settled in private off-shore trusts and investments including cash, shareholding, and real estate properties held by...