Reducing tax evasion will help government to earn more revenues.
Mourinho is unlikely to serve any time in jail under the deal because Spanish law states that a sentence of under two years for a first offence can be served on probation. The Spanish tax agency was not immediately available for comment.
Anti-money laundering efforts will not succeed unless banking secrecy laws are repealed.
The Enforcement Directorate on Tuesday conducted raids against Hero Motocorp executive chairperson Pawan Munjal and others as part of a money laundering investigation, official sources said. The searches were carried out at premises located in Delhi and neighbouring Gurugram in accordance with provisions of the Prevention of Money Laundering Act (PMLA).
The sentence could go up to three years if the evasion exceeds Rs 50 lakh (5 million).
Dismissing the notion that Mauritius is a tax haven, the island nation's Vice Prime Minister Ramakrishna Sithanen on Tuesday said he has not received any complaints from India about routing investments via his country to evade taxes.
Real Madrid forward Cristiano Ronaldo has reached a deal with the Spanish tax authorities
Ahead of Budget, a Parliamentary panel on Friday suggested taxing agricultural income, bringing all non-essential services under tax net and revamping export promotion schemes to check tax evasion and widen tax base.
American search engine Google, which recently accused the Chinese government of blocking its services, has been charged with tax evasion along with three of its affiliate companies.
The tax department had launched the action on Tuesday at the BBC's Delhi and Mumbai offices along with at least two linked premises as part of an investigation into alleged tax evasion against the British broadcaster in India.
Commissioners of Income Tax of the Central Information Branch will now report to the intelligence wing, headquartered in the national capital.
Sleuths from the department swooped down on seven locations across Mumbai city, including Jeetendra and daughter Ekta's residences.
The Union finance ministry has set up a special investigation unit to 'regulate' the funding and donations made to political parties.
A courier company owner was arrested for allegedly evading service tax of about Rs 70 lakh
It noted that profit shifting to low tax jurisdictions could be a major cause for base erosion in India.
Tax evasion is an illegal activity which entails not filing income tax returns altogether or misrepresenting the tax payable amount.
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.
A senior finance ministry official said on Tuesday the proposed change in the Finance Bill, 2012, would broaden the definition of commissioner.
Tax officials are scrutinising other cross-border mergers like the Vodafone-Hutchison deal for possible tax evasion after the Bombay High Court rejected a petition against imposition of tax on the deal, a key Finance Ministry official said.
The income tax department's marathon "surveys" at BBC's offices ended on Thursday, after clocking over 58 hours in total, as officials prepared an inventory of financial data from select staffers and collected digital and paper data.
Fan Bingbing, who has been ordered to pay $130 million (Rs 952 crore) for tax evasion, was reportedly kept at a "holiday resort" used by investigators in a suburb in the coastal province of Jiangsu.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
'Considering that there was an estimated Rs 10 lakh crores of Indian money stolen and kept in foreign tax havens, the UPA government with one stroke of its tainted pen has granted immunity to tax-evaders who had stashed the loot in tax havens.'
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The Central Board of Direct Taxes has issued new directives for selection of scrutiny cases during the financial year 2013-14 by the taxman which also includes big ticket international transactions.
Shell India on Tuesday described as "absurd" the demand for $1 billion in taxes on a $160 million equity infusion done by the Anglo-Dutch oil major four years ago, saying it tantamounted to tax on FDI.
Having observed variations in capital gains tax computation, the revenue department is working on a mechanism to analyse futures and options (F&O) trade data and pre-initial public offering (IPO) transactions. "The directorate of I-T systems is working on certain risk-assessment parameters to access the data, which could be on the basis of buying and selling prices of shares in F&Os, variations in margins, fair market value versus IPO prices, etc. "The idea is to segregate and process the voluminous data on equity derivatives for effective use," said a senior government official privy to the plan.
The income-tax department continued its searches in different places linked to an Odisha-based distillery group on charges of tax evasion for the sixth consecutive day on Monday after recovering unaccounted cash to the tune of Rs 353 crore, the 'highest-ever' haul in a single action by any probe agency in the country, officials said.
Supposed to be one of the top-paid stars in Tamil cinema, actor Vijay is known for his big-ticket hits and commands good box-office opening.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
Stressing that lowering of tax rates should provide no reason for tax evasion, the government on Thursday said about 130 help centres will operate from Friday to assist small assessees pay taxes.
It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
The details that have been shared include identification, account and financial information, including name, address, country of residence and tax identification number, as well as information concerning the reporting financial institution, account balance and capital income.
Banks are hurriedly scrutinising their account holders before stricter tax evasion measures come into force.
Higher levy on dividends earned by individuals also on radar.
Indians having undisclosed income in the United States (US) may face proceedings under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, this financial year. Also, those named in global leaks may be searched, show-caused, and prosecuted, according to the FY23 internal action plan of the Central Board of Direct Taxes (CBDT). The CBDT has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets.
The FM has levied 0.1 per cent tax will be levied on withdrawal of cash of Rs 10,000 and above from banks on a single day. So if you withdraw Rs 10,000 from the bank on a single day, you will need to pay a tax of Rs 10 on it.
Barcelona and Argentina forward Lionel Messi had nothing to do with his own tax affairs and should not be included in an investigation into an alleged fraud, his father Jorge has insisted.
