Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: Central Excise rule to resale the machines to a new company :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: ACCOUNTING STANDARDS :: VAT Audit :: list of goods taxed at 4% :: TDS :: ACCOUNTING STANDARD
 
 
« News Headlines »
 GST registration mandatory for TDS entities
 Govt rules out extension for filing GSTR-3B returns after December
 Tax department’s e-filing portal out of action for 2 hours
 Use ITR-2 to show salary and capital gains income
  TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
  How to file ITR for FY 2016-17 and all the links you need
 All about E-way Bill under GST
 Good and simple tax: on the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
 Filing of GST return

Biggest tax evasion scam unearthed
March, 09th 2007

Rs 35,000 crores is the estimated size of what could be the biggest income tax evasion scam in this country, reports CNBC-TV18.

A six-storeyed building in Pune's Koregaon Park area belongs to Hasan Mohammed Ali - an affluent business man having interest in horse breeding, exports, and of course horse racing. But a casual raid by the Income Tax department has opened up a can of worms on his life style.

The IT Department smelled a rat and raided Ali's offices in Pune, Mumbai, Hyderabad and Kolkata between 5th and 7th of January this year where they came across Ali's computer. The hard disc contained details of transactions totalling to Rs 35,000 crores in 10 Swiss bank accounts.

"We can't confirm or deny anything right now," says DV Dharmik, Chief IT Commissioner, Hyderabad.

The Finance Ministry was informed immeditely and they handed over the case to the Enforcement Directorate. Accordingly, a team of four senior officers was sent to Switzerland between January 15-19. Details of seven out of the 10 accounts were found matching and the Government of India asked for the accounts to be frozen.

Ali has been questioned in this respect on various ocassions but has not been arrested so far due to lack of evidence. The IT department, meanwhile, is being tight lipped about the matter.

What started as a random scrutiny is turning out to be the biggest case in the history of income tax investigations. The Enforcement Directorate is now waiting for details from the Swiss bank to finally nail Hassan Ali. But the real question is - where did this huge amount of Rs 35,000 crore come from and who are the other bigger players.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions