Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 8 reasons why old tax regime is still attractive for many taxpayers in this income tax bracket
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season

Punjab Excise and Taxation Dept. found tax evasion of Rs. 42 lakh
January, 10th 2008
Excise and Taxation Department has traced tax evasion of Rs. 42 lakhs during special search operation.

Assistant Excise and Taxation Commissioner of Mobile Wing Amritsar Rajpal Singh said that in a drive to increase the collection of revenue and check the evasion of VAT Tax started through out the state.

During this drive the Mobile Wing of Amritsar has detected evasion of Rs. 42 lakhs with the manufacturing unit of Tobacco Products belonged to M/s Gauri Mal Faqir Chand, at Gurdas district here today, said Singh.

Singh said that the entire business of M/s Gauri Mal Faqir Chand was inspected and during check operation of accounts it was found that the firm has made sale of Rs. 3.36 Crore of Kranti bidi on which firm was required to pay tax @ 12.5% under the provision of the VAT Act which comes approximately Rs. 42 lakhs but no tax was paid by the firm owner.

Singh said the recovery of Rs. 42 Lakhs would be made with in a week period otherwise strict action against the manufacturing unit would be initiated by seizing all the transactions of the firm.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting