Black money is a major threat to the Indian economy. Section 269St was inserted in Income Tax Act,1961 to curb the problems caused by black money.
Black money has been a major threat to our economy. Many taxpayers use only cash transactions in order to evade their tax liabilities and their responsibility towards the country. Cash transactions […]
Section 44AB of the Income Tax Act imbibes in itself provisions regarding the tax audit under the Income Tax Audit. A tax audit is an analysis of a taxpayer’s accounts book. The analysis is conducted to make sure that the taxpayer has accurately maintained the books of accounts and other records. Apart from this, […]
Let’s face the facts, The Government of India is no stranger to the problem of tax evasion, willful defaulters and black money hoarders. Few of these steps government has taken famously include Crackdown on Shell companies, Amendments to the Benami Properties Act i.e. RERA and demonetization. […]
