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FIFO LIFO TRICK
How jewellers quietly dodged over Rs 100 crores in taxes using FIFO-LIFO methodIndian jewellers are under scrutiny for potentially using the prohibited LIFO accounting method to underreport profits and evade taxes amid...- Income Tax Department begins crackdown as jewellers strike gold with accounting trickAmid rising gold prices, some jewellers are under scrutiny for potentially manipulating accounting methods to reduce profits and tax liabil...
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