Tax Evasion News
Explained: Nadhim Zahawi’s tax row and his sacking as Conservative Party chairman
British prime minister Rishi Sunak dismissed Conservative Party chairman Nadhim Zahawi for a ‘serious breach’ of the Ministerial Code. The senior Tory leader faced fierce pressure to quit over questions about his finances and that he had agreed to a penalty settlement with the country’s tax body
Trump's tax returns to be released Friday after long fight
A 2020 New York Times series showed that Trump paid just $750 in federal income taxes in 2017 and 2018, as well as no income taxes at all in 10 of the past 15 years
Centre considering to remove penal offence already covered under Indian Penal Code from GST Act
The proposal, part of the exercise to decriminalise GST law, is likely to be taken up in the next meeting of the GST Council. Once approved by the GST Council, the Finance Ministry will propose amendments to the GST law, which could be taken up in the upcoming winter session of Parliament next month
Income-Tax department is stepping into "new areas" to combat tax evasion, says CBDT Chairman Nitin Gupta
The Chairman said that data and risk analysis is being used to identify which cases have potential for investigation. 'We are touching new areas and various sectors of the economy which were never touched like asset reconstruction companies, gaming, betting etc.,' he said
IT slaps Rs 37.5 lakh 'due' notice to daily wager in Bihar
In the complaint Girish wrote that the notice identifies him as someone associated with a Rajasthan based private company however he claims to have never visited the state.
Vivo India accused of tax evasion to the tune of Rs 2,217 crore by the Directorate of Revenue Intelligence
The Enforcement Directorate and the Directorate of Revenue Intelligence has found in its investigations that Vivo India evaded custom duty to the tune of Rs 2,217 crore. Earlier, they had also accused Oppo of evading custom duty to the tune of Rs 4,389 crore.
The stink of corruption: Who is perfume merchant Piyush Jain and how authorities nabbed him
The money was allegedly generated through the dispatch of goods via fake invoices and without e-way bills by a goods transporter. Officials have seized more than 200 fake invoices from the premises they raided
Rs 257-cr cash, 250 kg silver, 25 kg gold: The tax raid on businessman Piyush Jain by the numbers
Jain is likely to be produced in court on Monday and could be taken to Ahmedabad from Kanpur for further investigation
Pandora Papers show line between tax avoidance and evasion has become blurred
The difference used to matter. Evasion was illegal. It meant not paying tax that was due. Avoidance meant arranging your affairs so tax wasn’t due.
Judge recommends €14.5 mn tax evasion trial for Shakira in Spain, says probe found 'sufficient evidence'
Shakira faces a possible fine and even jail time if found guilty of tax evasion.
Explained: Why Madras HC has imposed Rs 1 lakh fine on Vijay in luxury car tax evasion case
"These actors are portraying themselves as champions to bring social justice in the society, but their acts are not in consonance", the court said.
Spain opens probe into antivirus pioneer John McAfee's death inside Barcelona jail
John MacAfee death: The body of the 75-year-old founder of the anti-virus pioneer was discovered around 7 pm on Wednesday in his cell in the Brians 2 penitentiary near Barcelona
Why India inked a tax information pact with Caribbean nation of St Vincent and The Grenadines
There was no such agreement with Saint Vincent and The Grenadines in the past and India was negotiating this agreement for a long time
Zoran Mamic resigns as Dinamo Zagreb manager after former Croatia international gets prison sentence for tax fraud
Mamic has no further avenue for appeal, and will have to go to prison upon receiving the formal notification of the court ruling.
Bharat Bandh: Transporters association to protest against new E-Way Bill, rising fuel prices today
'All state-level transport associations have confirmed their support to the AITWA, also in protest against the fuel price hike,' said association national president
Income tax dept moves Madras HC against AR Rahman for alleged tax evasion
The Income Tax department found discrepancies in AR Rahman's tax filing for the fiscal year 2011-12
Income Tax Dept raids 25 premises linked to Chhattisgarh govt officials, Raipur mayor Ezaj Dhebar on charges of tax evasion
The Income Tax department on Thursday raided at least 25 premises linked to Chhattisgarh government officials and others on charges of tax evasion, officials said
I-T dept seizes tax evaders’ assets worth Rs 1,052 cr till January this fiscal, carries out searches on 893 groups, says Nirmala Sitharaman
The Income Tax Department has seized assets worth Rs 1,051.79 crore up to January in the current financial year as it conducted searches on 893 groups, Finance Minister Nirmala Sitharaman said on Tuesday
GST authorities detect fraud of over Rs 214 cr, made bogus e-way bills to back fake invoices; accused arrested
The alleged case of input tax credit fraud was taking place through fake invoices issued by bogus firms.
CJI SA Bobde calls for speedy resolution of tax disputes, says move will free funds locked in litigation
The Chief Justice said tax judiciary plays a very important role in resource mobilisation of the country and expressed concern over pendency of cases.