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TAX EVASION CHALLENGES
Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...- Gaming firms face ₹2.5 lakh crore exposure as Supreme Court upholds 28% GST on betting valueThe Supreme Court has made headlines with its ruling, requiring online gaming platforms to pay a hefty 28% GST on the entirety of the bet v...
- DGGI set to fire up GST recovery drive against gaming firms after Supreme Court's backingThe Directorate General of GST Intelligence will now aggressively pursue tax recovery from online gaming companies after the Supreme Court ...
- Byju gets jail term; SC backs 28% gaming GSTLegal troubles compounded for Byju Raveendran as a Singapore court sentenced him to six months in jail. This and more in today’s ETtech Top...
- India must leverage its digital verification architecture to evolve into a trust-based economyIndia faces a low-trust economy with high friction, exemplified by complex KYC norms. Finance Minister Nirmala Sitharaman highlighted this ...
- Indian Bank Q4 profit rises 5% to Rs 2,956 croreIndian Bank announced a 5% increase in net profit for the fourth quarter. The bank saw its operating profit rise and its gross and net non-...
- India shields pre-2017 foreign investment gains from strict tax rulesThis would allay fears of retrospective taxation, a longstanding concern for global investors, and reinforce India's image as a transparent...
- Online betting: Telangana HC dismisses Fino Bank MD Rishi Gupta’s plea, denies bailGupta sought to be released on bail. He also moved to have the March 1 remand order passed by the special judge for trial of economic offen...
- Black Money act under review; panel may revisit harsh clausesIndia's stringent Black Money Act is being reviewed. An internal committee will examine its interaction with the Income Tax Act. The review...
- Dream11 withdraws plea against the state revenue department from the Bombay High CourtThe development came after the additional government pleader Jyoti Chavan appearing for the state authorities informed the court that the d...
- GST officers detect Rs 1.36 lakh cr evasion in current fiscalThe Finance Ministry has revealed that GST Intelligence Officers have uncovered Rs 1.36 lakh crore in GST evasion during the current fiscal...
- Shakira charged with second tax evasion case in Spain; Here’s what happenedSpanish prosecutors allege that in 2018, Shakira committed tax fraud amounting to €6.7 million (approximately $7.1 million or £5.8 million).
- Sitharaman highlights India's efforts to counter tax avoidance, evasionIndia is a signatory to the OECD's multilateral convention that aims to check cross-border tax evasion by multinational companies.
- SC agrees to examine power of tax authorities to arrest individual for GST evasionA vacation bench comprising Chief Justice Ranjan Gogoi and Justice Aniruddha Bose issued notice to the Centre and sought its reply on a bat...
- Moderate taxes, high evasions cannot coexist: FM Arun JaitleyThe minister was replying to a demand made by Ashish Shelar, Mumbai BJP unit president, to bring the proposed GST rate at 17 per cent.
- Sesa Sterlite slips over 2% as government challenges mergerSesa Sterlite came under selling pressure after the MCA challenged Bombay HC's approval of merger of Sesa Goa and Sterlite Industries.
- Shell India to challenge tax evasion orderIncome tax department has charged Shell India of under- pricing a share transfer within the group by Rs 15,220 crore, and consequently evad...
- G-20 summit: Misuse of corporate vehicles playing part in tax frauds: OECDMisuse of corporate vehicles such as setting up of shell companies to hide the identity of beneficial owners continues to play a part in ta...
- India presses for automatic exchange of tax information at G-20Worried over the spurt in cross border transactions & tax evasion, India has pressed for automatic exchange of information.
- India presses for cooperation to deal with tax evasion, black moneyIndia pressed for greater international cooperation and global alignment of taxation systems to deal with the menace of tax evasion and bla...
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