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    Examples For Tax Evasion

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    dhwani shah
    Tax evasion involves failing to pay taxes owed, using fake documents to claim exemption, and smuggling to avoid import-export levies and customs fees. Common methods of tax evasion include not reporting cash income, only accepting cash payments to disguise sources, and filing inaccurate financial statements showing less income than actually earned in order to reduce tax liability. Tax evasion is a punishable offense in India that can result in heavy fines.

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    Examples For Tax Evasion

    Uploaded by

    dhwani shah
    14 views4 pages
    Tax evasion involves failing to pay taxes owed, using fake documents to claim exemption, and smuggling to avoid import-export levies and customs fees. Common methods of tax evasion include not reporting cash income, only accepting cash payments to disguise sources, and filing inaccurate financial statements showing less income than actually earned in order to reduce tax liability. Tax evasion is a punishable offense in India that can result in heavy fines.

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    Tax Law

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    Examples for Tax Evasion

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    Tax evasion involves failing to pay taxes owed, using fake documents to claim exemption, and smuggling to avoid import-export levies and customs fees. Common methods of tax evasion include not reporting cash income, only accepting cash payments to disguise sources, and filing inaccurate financial statements showing less income than actually earned in order to reduce tax liability. Tax evasion is a punishable offense in India that can result in heavy fines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    14 views4 pages

    Examples For Tax Evasion

    Uploaded by

    dhwani shah
    Tax evasion involves failing to pay taxes owed, using fake documents to claim exemption, and smuggling to avoid import-export levies and customs fees. Common methods of tax evasion include not reporting cash income, only accepting cash payments to disguise sources, and filing inaccurate financial statements showing less income than actually earned in order to reduce tax liability. Tax evasion is a punishable offense in India that can result in heavy fines.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 4

    TAX EVASION

    • Failing to pay the due


    • Using fake documents to claim exemption
    • Smuggling
    • Many individuals and businesses turn to smuggling in order to avoid paying state
    taxes, import-export levies, and customs fees. Smuggling is a punishable offence
    in India, and tax evasion can result in more heavier fines.
    • Not showing any income
    • Many people use cash transactions to disguise the source of their
    income.  People often do not produce invoices for sales. Landlords
    may also only accept cash payments for rent rather than bank
    transfers or cheques.
    • Inaccurate financial statements
    • False financial records or accounts books may be filed, showing
    income that is less than what was actually earned. Reduction in
    taxable income, reduces the tax liability.

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