TAX EVASION

  • Make tax evasion serious crime for black money information: SIT chief December 14, 2014

    New Delhi: Tax evasion needs to be made a serious 'criminal offence' to force foreign countries to reveal names and account details of Indians stashing illicit wealth abroad, the Special Investigation Team on black money has said. While adding more teeth to India's pursuit of black money kept abroad, this would...
  • Finance Minister for more global cooperation to check tax evasion, smuggling December 4, 2014

    New Delhi: Calling upon revenue intelligence agencies to enhance cooperation with their global counterparts to check tax evasion and smuggling, Finance Minister Arun Jaitley on Thursday said free trade should also mean fair trade. Although the fiscal incentives for financial malpractices have come down over the years, the Minister said revenue...
  • Black money details shared under tax treaty can't be shared even with courts: Swiss govenment October 31, 2014

    New Delhi/Berne: Amid a debate on disclosure of names of suspected black money holders, Switzerland Thursday said information exchanged under Swiss-India tax treaty cannot be disclosed "in principle" to a court or any other body outside the proceedings of a 'specific and relevant' case. The comments come at a time when...
  • Switzerland to work with new Indian government on tax evasion June 23, 2014

    New Delhi: As the debate on alleged black money stashed by Indians in Swiss banks continues, Switzerland on Monday said it is looking forward to working together with the new government of India in its fight against tax evasion. The European nation's Ministry of Finance also said that "Switzerland understands...
  • Swiss black money probe: Over 100 entities under scanner May 7, 2014

    New Delhi: As India steps up its pressure on Switzerland to get details of suspected tax evaders having bank accounts in the European nation, a discreet probe is underway of each stock market dealing of over 100 entities linked to these cases to detect possible rerouting of black money. The entities...
  • SC orders prosecution of Jayalalithaa for not filing IT returns January 30, 2014

    New Delhi: In a huge setback for Tamil Nadu Chief Minister J Jayalalithaa, the Supreme Court on Thursday ordered a trial court to prosecute her for not filing the Income Tax returns. Jayalalithaa is facing a trial in an income tax related case for not filing IT returns between 1991...
  • IT raids 20 Yash Birla properties in Mumbai, Delhi January 7, 2014

    Mumbai: The Income Tax department on Tuesday is carrying out searches at five companies of the Yash Birla group. The raids are currently underway at 15 different locations in Mumbai and Delhi. The companies are being searched for suspected tax evasion. Officials suspect that the income declared by them is...
  • Malayalam actor Dileep not paying service tax December 22, 2013

    Kochi: Raids at the home and offices of Malayalam actor Dileep Saturday revealed that he has evaded payment of service tax, said central excise and service tax officials. The over 12hour raid that began Saturday morning took place at multiple places, including his residence near here, and offices that are into...
  • Berlusconi masterminded tax evasion plan, says Italian court August 30, 2013

    Former Prime Minister Silvio Berlusconi was the mastermind behind a complex system of tax evasion by his holding company Fininvest, Italy's highest appeals court said on Thursday. The Court of Cassation, which published the reasons for its decision earlier in August 2013 to uphold Berlusconi's conviction for tax fraud, pulled no...
  • Football clubs in Italy searched over tax evasion June 25, 2013

    Rome: Naples prosecutors said on Tuesday they had ordered the search of dozens of Italian club offices as part of a tax evasion investigation relating to player contracts. Financial police were executing search warrants to seize documents from most of the 20 clubs in Serie A, including AC Milan, Juventus and...
  • Fashion designers Dolce and Gabbana convicted of tax evasion June 20, 2013

    Milan: A Milan court on Wednesday convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. They were found guilty of failing to declare 200 million euros ($268 million) through a Luxembourg company to authorities and given a one year and eight months suspended jail sentence. They were ordered...
  • iGate faces unsettled tax demands worth Rs 738 crore May 26, 2013

    New Delhi: After WNS and Infosys, iGate is the latest to face tax issues in India with the USbased outsourcing firm having an "unsettled" tax demand of USD 132.7 million (about Rs 738 crore) for assessment years 200405 to 200910. iGate, which was in news for sacking of its chief executive...
  • Ekta Kapoor's Balaji Telefilms owes Rs 30 cr to IT dept May 3, 2013

    Mumbai: Film and television producer Ekta Kapoor's production house Balaji Telefilms evaded tax to the tune of Rs 30 crore by inflating bills, said the Income Tax Department sources on Friday. Ekta has, however, now agreed to pay the remaining amount, added the sources. IT officials had conducted raids at...
  • Mumbai: Income Tax raids at Ekta Kapoor's Balaji Telefilms office April 30, 2013

    Mumbai: Income Tax officials are conducting raids at Ekta Kapoor's Balaji Telefilms office in Mumbai. The raids are also being conducted at producer Ekta Kapoor's residence as well as her father Jeetendra and brother Tushaar Kapoor residences. Tax evasion by the production house is the reason suspected behind the search and...
  • Rs 252 crore excise duty evasion notice to Cadbury India March 5, 2013

    New Delhi: A show cause notice raising a demand of Rs 252 crore has been served on confectionery major Cadbury India Limited for alleged excise duty evasion. The notice, seeking recovery, was issued on Monday by Directorate General of Central Excise Intelligence after its investigation found that the firm has...
  • Tax evasion of Rs 362 crore detected from Chennai zone January 13, 2013

    New Delhi: Excise duty and service tax evasion of about Rs 362 crore has been detected up to December in the current financial year by the Chennai zonal unit of Central excise department. "During the current financial year (up to December 2012), the Directorate General Of Central Excise Intelligence, Chennai...
  • US: Indian doctor, wife plead guilty to tax evasion January 9, 2013

    New York: An Indian doctor and his wife have pleaded guilty to charges of federal tax evasion and to illegally distributing weight loss medicines to patients, agreeing to pay nearly USD 5.2 million in restitution. Rakesh Anand, 57, a licensed physician in Indiana and Illinois and Meena Anand, 53, entered...
  • Ramdev gets notice for alleged tax evasion November 28, 2012

    New Delhi: A demand notice has been sent by authorities to trusts run by Ramdev for alleged service tax evasion on about Rs 1 crore received from a private TV broadcaster for airing his programme on Yoga. Official sources said a demand notice was sent to Patanjali Yoga Peeth and...
  • Government slaps Rs 5 cr notice on Ramdev's trusts November 11, 2012

    New Delhi: The Government has slapped a notice of Rs five crore demand on trusts run by Ramdev in connection with alleged service tax evasion while organising their yoga camps. Claiming that shivirs (camps) undertaken by Patanjali Yoga Peeth and Divya Yoga Trust in Haridwar were commercial activity, the Revenue...
  • Afridi, Younis sent notices for tax evasion November 2, 2012

    Karachi: Former Pakistan captains Shahid Afridi and Younis Khan were among four players hit with tax demands totalling more than three quarters of a million dollars on Friday, officials said. The Federal Board of Revenue (FBR) said it had issued notices to Afridi, Younis, Umar Akmal and Abdul Razzaq for evading...
  • Virbhadra threatens to file defamation suit over allegations October 25, 2012

    Shimla: Under attack from the opposition on charges of corruption and forgery, former Union Minister Virbhadra Singh on Wednesday threatened to file defamation suit against those indulging in his "character assassination". Lashing out BJP leader Arun Jaitley for making allegations of foregery, money laundering and income tax evasion against him,...
  • GMR Infra offices raided on suspected tax evasion October 11, 2012

    New Delhi: Income Tax Department officials on Thursday raided the offices of GMR in multiple cities over suspected tax evasion by the infrastructure company. The search operations in the Delhi, Mumbai and Bangalore offices of the company are being carried out by the IT Department's investigation wing. GMR has confirmed the...
  • B'lore: IT hub 'cheats' govt, may be taken over August 10, 2012

    Bangalore: Bangalore is India's premier IT hub and houses top companies like Wipro and Infosys. But now, the Bangalore Municipal Corporation wants to take over the privately managed Electronic City, accusing it of tax evasion. The move, however, has drawn howls of protest. Mohandas Pai, Chairman, Manipal Global Education Services, says,...
  • Govt aims to finalise GAAR by end September July 14, 2012

    New Delhi: The Government aims to finalise guidelines to implement controversial rules that target tax evasion by the end of September, its government said on Friday, as it aims to calm worried investors. The general antiavoidance rules (GAAR), first introduced in the budget in March this year, target firms and investors...
  • Ready to revise tax treaty with India: Mauritius July 6, 2012

    New Delhi: Mauritius on Friday expressed its readiness to expeditiously revise the tax treaty with India to check tax evasion but asserted that domestic laws should not have precedence over the provisions of the bilateral pact. "We want earlier resolution because we do not want uncertainty, as instability and uncertainty is...
  • Govt proposes monetary limit for invoking GAAR June 28, 2012

    New Delhi: To address investor concerns over taxation issues, the Finance Ministry on Thursday proposed a monetary limit for invoking the controversial General AntiTax Avoidance Rules (GAAR) in its draft guidelines issued late in the night. Although the draft did not specify the monetary limit, it said that those deals which...
  • IT dept surveys offices of IPL franchises May 23, 2012

    Mumbai/Pune: Income Tax authorities on Wednesday conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in Bangalore as part of their probe into alleged tax evasion. IT sources said officials were sent to collect documents and details...
  • Factbox: GAAR delay fails to soothe fears May 9, 2012

    New Delhi: India has deferred by a year the rollout of measures to crack down on tax evasion, which had sparked an outcry among foreign investors, but has yet to provide clear guidelines on the proposals. Here are some quick facts that pertain to markets about the proposed changes and clarifications...
  • Switzerland seeks arrest of German tax officials March 31, 2012

    Berlin: Swiss authorities have issued arrest warrants for three German tax inspectors over the purchase in 2010 of a CD containing data on suspected tax cheats, according to a German newspaper, infuriating a German state governor. The Bild am Sonntag newspaper reported today that the Swiss accused the officials of "economic...
  • Tax evasion: India, Mauritius want early pact February 7, 2012

    New Delhi: Amidst concerns over Mauritius being used as a major route for avoidance of taxes on investments by Indian companies, Prime Minister Manmohan Singh and his counterpart Navinchandra Ramgoolam on Tuesday agreed on early conclusion of an agreement aimed at tackling this menace. The two leaders reviewed the status of...