Evading tax! Then what

As long as you are filing returns every year there is no worry at all...however, it is best to know all the rules law structures in our country, most people are unaware of it. Very useful link...

As long as you are filing returns every year there is no worry at all...however, it is best to know all the rules law structures in our country, most people are unaware of it. Very useful link...

If you file return and fail to include some income, this is evasion. If there is no special scrutiny and evasion not detected, there is no issue.

As long as you are filing returns every year there is no worry at all...however, it is best to know all the rules law structures in our country, most people are unaware of it. Very useful link...

If you file return and fail to include some income, this is evasion. If there is no special scrutiny and evasion not detected, there is no issue.

I see ! I guess it is best to visit a tax consultant once a year to get things right because we wouldn't know many intricacies that are involved in tax related issues. Of course one can read up but again we may not be able to interpret it in the right manner..

Sir, what about the frauds which are happening in our Country. Many people do fraud in giving tax.

Sir, what about the frauds which are happening in our Country. Many people do fraud in giving tax.

In taxation, there is mainly only one offence and that is tax evasion. This is by understating income either by way of concealing or claiming wrong deductions and exemptions or showing more business expenses. What happens that in some cases, the amount is more and others negligible.

Many years ago, I witnessed fraud also. This was bogus refund claims. This was by collusion between Income tax staff, bank staff and some individual. Bogus refund claims were passed in name of fictitious persons and amount distributed between all three. The offender was near my residence. Police arrested the man.

Now no return will be given for less than five lakh income- this is good news for middle class. But we should not hide anything in return file, if caught then penalty .

Tax evasion is a crime. Government take a part of our income to provide us back in the form of many other facilities. Tax must be provided by all Indians as they are living in India. Tax is a good source of income of the government. It is the tax which is accumulated as fund and utilised by the government for development and social benefits of the Indians.

Now no return will be given for less than five lakh income- this is good news for middle class. But we should not hide anything in return file, if caught then penalty .

Many government officers prefer to get their tax deducted at source. This is better option with no tension.

Deduction at source is for govt. employee but here is also a problem. They hide their other income in the statement.

From what I see it is not easy to evade tax for a long time since we need to show our pan card for any expenditure above a certain limit...so it goes on record , tracking may be slow but eventually they will catch up with those who are evading tax and have undisclosed income.

From what I see it is not easy to evade tax for a long time since we need to show our pan card for any expenditure above a certain limit...so it goes on record , tracking may be slow but eventually they will catch up with those who are evading tax and have undisclosed income.

Tax evasion cannot be completely stopped. Tax tax authorities can make demand only within one year in normal cases and five years when suppression of facts, fraud etc is involved. Many evasions are not detected. secondly, if you make assets with the tax evaded money, you may be caught. If whole money is gifted or spent on consumable items, evasion cannot be caught.