Tag Archives: Tax Evader

This article is in continuation to my previous articles on Black money. Can this government bring back the so-called ‘black money’ stashed abroad?  Can this government tighten the noose on black money offenders within the country?  Not sure. But the only silver lining in the latest development is that the …

Income tax department has started sending notices to non-filers for the assessment year 2014-15. The income tax department has been capturing information on financial transactions /activities relating to you through Non-filers Monitoring System (NMS). This year NMS has identified 58.95 lakhs non-filers (Cycle 4 -2015) with potential tax liabilities for AY …

Previous Article: How black money is converted into white money I want to begin this article with an analogy. Assume you hire the services of a doctor to find out the reasons for a ‘cold’. He comes out with a detailed 30-page document (after 6 months) listing out the reasons such …

Soon, the taxman will be able to access all the financial information of taxpayers in a single window. The income-tax (I-T) department is embarking on a project called Income Tax Business Application to collate all information on a taxpayer from various sources based on the permanent account number (PAN). Of …