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INSURANCE TAX EVASION
Forget the DOJ. For a Trump pardon, call "Bobby" and other influencersPresident Donald Trump's pardon system has shifted dramatically. Influence now hinges on personal networks and narratives of victimhood, by...- Digital arrest: How India’s fastest-growing scam uses fake investigations and video calls to siphon off croresThey pose as the police, put you under ‘digital arrest’, and tether you to a video call till your savings are gone. How India’s fastest gro...
- Bombay HC stays GST demands on co-insurance premiumsThe Bombay High Court has granted interim relief to several insurance companies by staying GST demands on co-insurance premiums and ceding ...
- DGGI detects Rs 2.01 lakh cr GST evasion in FY24; online gaming, BFSI most prone to evasionAs per the annual report of the Directorate General of GST Intelligence (DGGI), about 46 per cent of the evasion cases related to non-payme...
- Aviva says India unit 'engaging' with authorities over tax investigationBritish insurer Aviva's India unit is under scrutiny for alleged tax evasion between 2017 and 2023. The company is accused of using fake in...
- How to insure the insurance industryThe insurance industry in India is facing allegations of tax evasion, with companies accused of evading GST amounting to ₹5,500 crore. Tax ...
- GST Revenue Leak: ICICI Lombard faces ₹1,728.9 crore tax demand amid ongoing investigationsICICI Lombard, a general insurance company, has been served a show-cause notice by a central law enforcement agency for allegedly not payin...
- Probe on insurers over, Income Tax department finds alleged tax evasion of Rs 15,000 crApart from the IT department, the insurers were also investigated by the Directorate General of GST Intelligence (DGGI). While the DGGI was...
- DGGI unearths Rs 3,500-cr ITC discrepancies from 15 of 30 insurers, tax evasion probe into insurers to end by NovET was first to report on September 29, 2022, about investigations into potential GST input tax credit violations by insurers, and on Janua...
- GST violations case: Finance ministry refuses to act on insurers' plea, refers matter to IrdaiThe insurance industry had approached the revenue department in the first week of April seeking a lenient view of the industry-wide commiss...
- Income Tax investigation against insurers widens to banksInitially, the I-T department was probing more than 20 insurance firms and about 500 entities linked to their sales agents. But the line of...
- Tax probes against insurers may go on despite IRDAI's new commission normsWhile the GST authority is probing them for fake input tax credit, the tax department is investigating them for alleged tax evasion by viol...
- GST officers detect Rs 824 cr tax evasion by insurance cosDuring the search investigations, many cases of availment and utilisation of ineligible input tax credit (ITC) without underlying supply of...
- India-Japan amended tax treaty comes into forceSimilarly, General Insurance Corporation of India and New India Assurance Company Ltd have also been included in the definition of 'Central...
- Cipla under income tax authorities' scannerMumbai based pharmaceutical giant Cipla came under the scanner of the income tax authorities for alleged tax evasion.
- About Rs 600 cr service tax evasion detected by Finance MinistryFinance Ministry has detected service tax evasion of about Rs 600 crore between January and July this year.
- ICICI Prudential gets over Rs 130 cr tax noticeThe Finance Ministry has asked private sector insurer ICICI Prudential to cough up over Rs 130 crore for alleged evasion through non-paymen...
- Insurance firms being probed for evasion of service tax, says P ChidambaramSeveral insurance firms are being probed for suspected evasion of service tax and recoveries have been made in some cases, said P Chidambar...
- Insurance companies under lens for tax evasion of over Rs 300 croreInsurance companies have come under the scanner of a government intelligence agency for allegedly evading service tax of over Rs 300 crore.
- Switzerland threatens tax cheats using insurance 'wrappers'Swiss regulators are probing whether investors are buying life insurance to hide undeclared assets from tax authorities as the dispute over...
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