A closer look at government data reveals that the Central Board of Direct Taxes (CBDT) has registered an over six-fold increase in the number of prosecution cases filed in courts to 4,524 in 2017-18 from 669 in 2014-15.
In its April 4 order, the Bureau of Civil Aviation Security (BCAS) alleged that Krystal Aviation Services Pvt Ltd, promoted by Prasad Minesh Lad and his wife, created “ghost employees” in the payrolls of associate firms to “evade taxes”.
Information from excise department revealed that bills amounting to more than Rs 100 crore had been issued in the last 3 years out of which initial investigation have shown tax evasion of nearly Rs 7 crore.
In 1997, in the days before P Chidambaram presented his famous dream budget, one of the proposals under discussion in North Block, which houses the Ministry of Finance, was a tax amnesty scheme. Once a decision was taken to cut direct tax rates sharply to 10%, 20% and 30%, replacing the earlier rates of 15%, […]