#tax-evasion
He moved to the US for a job and forgot to file his India ITR; taxman imposed Rs 8.29 lakh penalty, but ITAT Jaipur cancelled it for this reason
The individual maintained that he had not deliberately attempted to evade tax. His case was that he had simply missed the ITR deadline while dealing with his relocation and new job in the US.
RBI backs crypto ban , tax department warns of evasion risks , documents show
I-T dept flags up to 20,000 ITRs for ‘swapped provisions’ used to lower net tax liability — What happens next?
The income tax department has identified 15,000-20,000 cases of taxpayers using swapped provisions to reduce taxable income. This involves replacing exemptions to lower tax liability without valid reasons and documents. Details here.
Authorities allege Pernod Richard withheld Scotch composition, age in effort to pay lower tariffs under $314 mln refund case
Indian tax authorities are in a legal fight with Pernod Ricard. Investigators claim the French company hid the true value of Scotch whisky imports. This led to a demand for 30 billion rupees in back taxes. Pernod Ricard denies wrongdoing. The company argues i…
India recasts rules for foreign tax info exchange: New framework from July 1 aims to curb cross-border tax evasion & speed up case closure
India has updated its rules for sharing tax information with other countries. New rules make foreign tax requests high priority, requiring information within 15 days. This aims to speed up cases and stop tax evasion. India will also track its own requests to …