Powerd By SAG INFOTECH
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Paying income tax is the responsibility of salaried taxpayers in order to avoid the IT-Department follow. But, many taxpayers find some ways through which they can hide their original taxable income and pay fewer taxes.
In a recent crackdown on the taxpayers for not paying their advance taxes, the tax department had been issuing notices to the defaulting taxpayers and also seeming to take strict actions against them.
To tackle the cases of tax evasion, the GST officials have come up with the idea to enable a checking feature in the new returns filing system. This will ensure that all the credit requests are first checked for whether the tax has been paid already.
The government has finally decided that transaction credit can be claimed by individual firms, after getting criticised by two high courts over the GST working portal
Tax evasion under the new GST TAX regime was never going to be easy. Going by the Governments strong stand it appears that the culprits would be unmasked sooner than later.
The Gujarat Income Tax department is quite happy with the government move to wipe out black money and bring more people under the GST ambit by Demonetization and GST initiatives.
Now there will be a tough time for the Income-tax defaulters as there are no chances for them to flee by changing there address.
Goods and Services Tax (GST) database management system might be used by the Indian government to track the records of income tax filings or tax evaders.
Income Tax Department is seeking information on past transaction details from banks and financial institutions. Through past transaction details, tax department will be able to determine Goods and Services Tax (GST) calculations.
