tax evasion

You cannot ignore GST anymore In order to pull out an effective tool to curb tax evasion under the Goods and Service Tax (GST) regime, the central government is planning to introduce electronic invoices for business to business sales…

I have long wondered why our government doesn’t use some PAN-based information for finding out financial status of individuals. The tool would not only simplify the taxing procedure but would also help in quick tax redressal. As per…

Indian startup scene is on fire: almost 100,000 new companies were registered in India last year, and since last three years, almost $3 billion has been invested in new ideas, applications and portals. People are leaving their cushy IIM…

When it comes to income tax in India, the salaried individuals, especially the ones who earn over 10 Lakh a year have to pay much higher taxes. Infact, the taxes are so high that they fork out some of the highest taxes in percentage terms.…

Updated: IT looks like the Finance Ministry has put on hold the new norms. A statement from the Finance Ministry says that The Central Board of Direct Taxes (CBDT) has decided not to change the norms until new orders. No reasons were given…

There are so many people that ask me this questions – Why should I file my Tax returns, if I have already paid my taxes. Infact, many wrongly believe that there is no need to file the tax returns at all. This is a completely wrong…

Starting from April 1, 2010, if your total income falls under any of the taxable slab, you are required to quote Permanent Account Number (PAN) in your financial transactions. Budget 2009-10 makes it mandatory to quote your PAN number in…