Uttarakhand GST officials conducted an elaborate undercover operation, creating fake firms to expose a company evading over Rs 150 crore in taxes.
Punjab's Finance, Excise and Taxation Minister Harpal Singh Cheema announced the unearthing of a Rs 429.30 crore GST fraud, leading to an FIR in Ludhiana. The investigation, initiated after intercepting a vehicle on September 30, revealed a syndicate of 62 interconnected firms across multiple states using non-genuine documents to evade taxes.
Gujarat CID-Crime has registered FIRs against three political outfits Swatantrata Abhivyakti Party, Satyavadi Rakshak Party, and Garib Kalyan Party for allegedly orchestrating a 'poll donation scam' amounting to Rs 314 crore in tax evasion. These parties reportedly collected donations, returned money after deducting commissions, and facilitated tax rebates for donors, with chartered accountants also implicated. The scam involved submitting false contribution reports to the Election Commission.
Real Madrid coach Ancelotti goes on trial in Spain for tax evasion.
This is part of India's drive to get back the money stashed abroad.
The investigation is linked to Rossi's decision in 2000 to take up residence in Britain.
It's possible to curb tax evasion using high-end technology. But it requires an honest intention to make use of the treasure trove of data that is captured, points out Harsh Roongta.
The Rajasthan Anti-Corruption Bureau arrested two middlemen and detained a Central GST superintendent for allegedly demanding and accepting a Rs 25 lakh bribe to settle tax evasion matters and activate a firm's account.
The income-tax department has launched a significant verification drive targeting 394 entities and 36 professionals over suspected irregularities in substantial foreign remittances made over the past three years, aiming to uncover potential tax evasion and fraudulent transactions.
FATCA will facilitate flow of financial information between countries.
For starters, the application to the commission will have to be made together with the payment of the tax liability. The application can be made only before the assessment officer has completed proceedings, and not after.
The Goods and Services Tax (GST) Council is set to discuss proposals aimed at transforming the complex indirect tax system into a more business-friendly regime, focusing on simplifying compliance, reducing administrative burdens, and potentially raising the prosecution threshold.
'It is over and I can clearly state without fear of being contradicted that Maradona has never been a tax evader.'
India has been spearheading the campaign at international fora for automatic exchange of information with a view to check tax evasion.
Tax evasion needs to be made a serious 'criminal offence' to force foreign countries to reveal names and account details of Indians stashing illicit wealth abroad, the Special Investigation Team on black money has said.
The meet assumes significance as the Mumbai unit of the I-T department is handling probe into high-value cases of tax evasion including the Indian Premier League case, probe into the investments of Pune-based stud farm owner Hassan Ali Khan and tax related cases of the top cricketing body of the country -- Board of Control for Cricket in India.
Gujarat ATS intercepts a large silver consignment worth 5 crore at Rajkot Airport, suspecting tax evasion.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, has begun deliberations on significant reforms, including decriminalising nine offences, softening provisions for 24, and raising the threshold for criminal prosecution to Rs 5 crore. The proposed changes also include scrapping the arrest powers of GST officers and introducing an 'invoice matching system' to combat fake input tax credit claims, aiming for a trust-based taxation approach and enhanced ease of doing business.
The Income Tax department is understood to have detected an evasion of Rs 502 crore (Rs 5.02 billion) by two major steel manufacturers after it conducted searches and surveys against them in various parts of the country.
Finance Minister Pranab Mukherjee on Monday made it clear that his ministry has been investigating into two aspects of whether there was tax evasion and money laundering in the IPL and it has nothing to do with other issues concerning the Twenty20 event.
Bayern Munich president Uli Hoeness, once one of Germany's most admired soccer managers, goes on trial on Monday charged with tax evasion in a case that has shocked the nation and changed attitudes towards paying taxes.
I-T has charged the MNC of under-pricing share transfer by Rs 15,220 crore.
The department, according to officials, has reportedly traced instances of tax evasion by various Telecom firms that have been named by the CBI and the ED in their charge sheets.
Ashvin Desai of San Jose has been indicted by a federal grand jury on three counts of tax evasion, two counts of willfully aiding preparation of false tax returns and three counts of failing to file reports of Foreign Bank and Financial Accounts, the Justice Department said.
The bank said it is cooperating with the US Department of Justice and the Internal Revenue System (IRS) in their probes into whether certain HSBC companies and employees acted appropriately in relation to certain customers with US tax reporting requirements.
Football great Diego Maradona has won a 30-year battle over tax evasion charges in Italy and will soon return to Naples, the scene of some of his greatest sporting triumphs, his lawyer said on Friday.
The Income Tax department is probing tax evasion cases done through duplicate permanent account numbers, including over 100 cases detected by the Delhi Police.
These builders had collected the taxes from prospective buyers but had failed to deposit them.
Taxpayers should reconcile returns with AIS, Form 26AS and maintain all supporting records.
The on-going search operation started a fortnight back in which the evasion by firms providing real estate services, including renting and other collaborations was detected, official sources said.
As the debate on alleged black money stashed by Indians in Swiss banks continues, Switzerland on Monday said it is looking forward to working together with the new government of India in its fight against tax evasion.
After the verdict, Harry Redknapp, one of the best known figures in English soccer, said the strain of the investigation had been "horrendous" as he fought back tears.
The Directorate General of Central Excise Intelligence has initiated a probe following complaints of the service tax evasion by various insurance providers.
'Switzerland is a country which wants to be part of the international mainstream'.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
The Finance Bill, 2007, has proposed tougher measures against tax evasion by tightening penalty provisions.
Income tax sleuths who reached Khan's residence on Jail Road in Rampur in Uttar Pradesh at 7 am on Wednesday completed their search Friday evening.
