Page 10 - Tax Evasion

Tax evasion via stocks: Sebi revokes ban on 82 entities

Sebi has revoked the confirmatory orders against these 82 entities with immediate effect

Tax evasion through stocks: Sebi revokes ban on 307 entities

Also, Sebi would continue its proceedings against 96 remaining debarred entities

India, 67 nations sign pact to check tax evasion by MNCs

To plug loopholes in existing laws that allowed companies to evade taxes

Data shared with FinMin shows tax evasion worth Rs 15,047 cr

13 tax evaders arrested; 1,500 cases of evasion registered in FY17

BSE chief vows to crack down on tax evasion

Ashish Chauhan said 80-90% of capital gains tax exemption being claimed were from larger companies.

13 locations searched: I-T dept raids TN chief secy's son, kin in tax evasion probe case

The Income Tax department today conducted searches at over a dozen locations in connection with its tax evasion probe against the son and few other relatives of Tamil Nadu Chief Secretary P Rama Mohana Rao. The searches that began as early as 6:00 AM are on at various places in the state and neighbouring state of Andhra Pradesh. "A total of 13 premises are being searched," a senior official said, adding the premises connected to Rao's son and other relatives are part of the operation. It is understood that the official residence of the Chief Secretary in the state capital here has also been brought under the said operation. Rao was appointed the top state bureaucrat in June this year by the state government. The searches, they said, are related to the department's probe in thebiggest haul of cash and gold here post demonetisation, in which over Rs 142 crore unaccounted assets have been recovered so far. The total seizure in the case is overRs 170 crore in a single case related ..

I-T dept uncovers tax evasion of Rs 38,000 cr

Issues notices to 147 promoters, investors, who could face penalty at rate of 200% on evaded tax

Why govt is punching below its weight on tax evasion

While the collection from the 'amnesty' scheme has been impressive, the income tax department has not managed to bring new tax payers under its ambit

Singapore, Australia agree to share financial data to fight tax evasion

Singapore has said that it would exchange information with countries that can ensure the confidentiality of data and offer reciprocity

Letters: Complex laws

A V Rajwade, in his column, "What's the logic behind tax evasion?" (May 5) wonders why people evade taxes despite the poor marginal utility of the move to seek foreign banks to deposit their savings. Could there be some non-theoretical reasons?When the wealth is earned through illicit means, taxpayers may find it difficult to explain the source of income to the authorities, though they might be willing to pay the tax. Second, they have more trust in the soundness and confidentiality retention of foreign banks.Third, as a nation, we are prone to breaking the law. One reason for this is that our laws are either too rigid or too lax or too complex to understand. India's Income Tax Act is a complicated legislation, with many provisos and exceptions. Careful filing of returns does not guarantee there won't be any litigation.Also, there is a perception that only a fraction of taxpayers' money is spent well by the government, the bulk lining the pockets of the authorities. So why squander har