An analysis based on Lok Sabha election candidates’ affidavits, the Forbes’ rich list and income-tax data shows that the rich in India report significantly lower incomes relative to their wealth.
Indians have long had a confrontational relationship with the nation’s tax office, whose adversarial approach has crushed countless small businesses and international investors. This was meant to be the year the government fixed all that and repaired relations with taxpayers.
Views: 919 Avoiding taxes against the law, can lead to severe consequences. Make sure to understand where people may try to evade taxes and be careful when filing your income tax return. Tax evasion involves unlawfully avoiding tax payments through…