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The concerns from tax authorities come at a time when there is an ongoing debate on how far 'moonlighting' by employees can be allowed. Some companies -- like Wipro and Infosys -- reportedly terminated the services of some of their employees over ethical issues. Others say they may allow their employees to take up gig work if these do not come in direct conflict with their primary jobs.
"Many people are interested in discussing or understanding this (issue) better,” Amarpal S Chadha, tax partner and India mobility leader, EY India, told ET.
Chadha added that not disclosing such income may lead to a mismatch in income reported by an individual versus the data available with the tax authorities, since Form 26AS, Annual Information Statement and Taxpayer Information Summary are "quite elaborate".
Taxation experts said that the Income-Tax Department may initiate an enquiry if undeclared income is detected in future, possibly esulting in penalties.
“Given the advancement of technology, it will be very difficult to conceal the second earnings for long,” Prabhakar KS, CEO of Shree Tax Chambers, a Bengaluru-based tax consultancy firm, told the publication.
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First Published: Thu, November 03 2022. 11:51 IST