Barcelona's Argentina forward Lionel Messi and his father have been accused by Spanish tax authorities of defrauding the state of more than four million euros.
Authorities claimed that a share sale by the company to its overseas parent in 2009 was undervalued by about Rs 15,200 crore.
The tax payers' net in India is widening, but also growing is the tax evaders' list. The first half of this fiscal saw 69 more cases of tax evasion with assets worth nearly Rs 217.07 crore (Rs 2.17 billion) seized, compared to Rs 171.57 crore last fiscal.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Although the prosecutor has argued Lionel Messi should not have to answer the charges as his father oversaw his finances, a court document published on Thursday showed the judge in the case had ruled he must still appear as a defendant.
Average monthly GST collection rose from Rs 90,000 crore during the first year of its implementation -- 2017-2018 -- to Rs 1.68 trillion during 2023-2024, representing an 87 per cent rise.
Greater focus on international transactions.
The victim, who had a keen interest in stock market investments, was lured by fraudsters with promises of hefty returns on investments in stocks.
Finance Minister Nirmala Sitharaman on Monday said that GST collection from online gaming has increased 412 per cent in six months from October 1, 2023, when 28 per cent tax was levied on these services. Briefing media on the decisions taken at the 54th meeting of the GST Council, Sitharaman said the status on revenue collection from casinos, online gaming and horse races after six months of implementation of 28 per cent GST was presented to the Council. "The revenue from online gaming has increased by 412 per cent and reached Rs 6,909 crore in just for six months.
The court said multi-storey buildings were being allowed to operate but there was no proper drainage.
The state's tax department had collected Rs 64 crore (Rs 640 million) from ACC, against which the company moved the Himachal Pradesh High Court.
HSBC's Swiss bank routinely allowed clients to withdraw "bricks" of cash
Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as part of their probe into alleged tax evasion.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
The Central excise department slapped a notice on King's XI Punjab cricketer Yuvraj Singh seeking payment of service tax to the tune of Rs 1.15 crore raised on his income from two seasons of Indian Premier League (IPL) and endorsements.
The tax authorities and insurance regulator Irda are working on the possibility of removing Service Tax on first premium.
Authorities will allow the country's taxpayers to access the mutual agreement procedure (MAP) for cross-border disputes. This is even if they had settled the case under the direct tax dispute resolution scheme - Vivad se Vishwas - without deviating from the outcome of the scheme, said the Central Board of Direct Taxes (CBDT) on Monday. However, non-resident taxpayers, who opted for the resolution scheme, cannot go for MAP on the same issue, it clarified. MAP is an alternative dispute resolution mechanism under the tax treaties where competent authorities of two countries enter into discussions to resolve tax-related disputes.
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
Begin by creating a household budget. Involve all family members in the exercise and cut costs wherever possible.
In a study, doctors have documented treating two women of 'petticoat cancer' -- a condition possibly triggered by tying the waist cord of a saree's underskirt or petticoat tightly.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
Total number of tax disputes in SC cross 10,000
This has affected all political activity of the party, Maken said at a press conference.
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
Income Tax Department has slapped fresh tax notice on Nokia India, tax authorities said.
The Supreme Court on Monday refused to offer any immediate relief to Vodafone, which has challenged the Bombay High Court order allowing the government to tax the company's $11 billion deal with Hutch.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The 33-year-old is accused of evading 5.7 million euros in taxes. He has denied the allegations.
The company says the reminder does not include a deadline for payment.
In a relief to actor Shah Rukh Khan, the Income Tax Appellate Tribunal has overturned an order of the tax authorities to add Rs 2.28 crore he had lent his wife as interest free loan to buy flat and jewellery to his net wealth.
The tax department surveyed the office of the news portal located at Sarvodaya Enclave in south Delhi on Friday along with that of another digital news platform Newsclick in Saidulajab area (south Delhi) on charges of alleged tax evasion.
A sharp rise can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1, 2024.
The decision was taken back on Wednesday after directions from higher officials, Varanasi Samart City project PRO Shakhambhari Nandan said.
Insurance companies may soon face goods and services tax (GST) audits as tax authorities plan a "deep dive" into their business practices to check for the possibility of a raft of tax-linked irregularities. Several insurance companies are being probed for wrongly availing of the input tax credit without the underlying supply of goods and services based on fake invoices generated by their channel partners and intermediaries. "We want to deep dive into the overall business and see if there are further taxation issues besides commissions, which are already being investigated," a senior official of the Central Board of Indirect Taxes and Customs said.
HDFC Life Insurance Company on Thursday said it has received GST demand orders of over Rs 27 crore for alleged short payment of taxes. In two separate regulatory filings, the insurer said it has received tax demand orders of over Rs 16.5 crore and Rs 10.5 crore from authorities for alleged short payment of GST and input tax credit claim mismatch.
Asked to share details of income from all its 16 zones, especially through tatkal, ticket cancellation and bed roll charges
