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The income tax department mentioned that it is not seeing Digi Yatra data to catch tax evaders. The IT department published on X denied reports that mentioned that Digi Yatra data will be utilised to catch the tax evaders. It is clarified that, as of now, no such move has been made by the Income […]
The last date to furnish the ITR for the AY 2024-25 is 31st July 2024 for taxpayers. Tax Evasion in Knowledge Section 276C gives punishment for the matter of wilful trying to evade tax, penalty or interest or under-reporting of income. Under section 276C when the individual willfully tries to evade tax, income tax penalty, […]
Tax officials have been directed to augment their inspection of tax evasion through the help of Artificial Intelligence and Data Analytics in order to stop the leakages in revenue collection. Their goal is to make a targeted approach to counter the leakages. They want to ensure the process of red-flagging the tax evaders thereby making […]
Tax sleuths have planned a fresh crackdown on traders practising tax evasion of Goods and Services Tax (GST) by pursuing new registration for their businesses without dismissing a prior one.
The income tax department is all set to nab the income tax evaders with its pool of expertise and vast data of transactions caught by the officials through deep exploration.
The government finally made a strict pool of GST officials against the tax evaders who are now liable for prosecution from both state and central GST officials in case they are caught doing unethical GST return filings.
The government is ready to convey the surveys and searches for the businesses who haven’t paid the taxes yet and will try to bring more of companies under the umbrella of GST net.
Starting from 1st July, the Goods and services tax will be applicable and in return will demand a list of strict compliance. The government will be making a round of inspections and compliance rules to make sure no taxpayer evade the taxes along with proper follow up with the compliance.
Upcoming GST regime will be giving some serious authority to the GST officers to make a vigilant and strict move towards the fickle minded business units. The GST regime in its provisions and clause gives the power to the GST officer to term 5 years of jail to any convicted businessman in the case of proved conviction. The GST officer can also impose a heavy penalty over the particular convicted businessman or trader who is booked under the tax evasion case by the vigilant team.
