The Income Tax Department is fully prepared to take stringent action against high-net-worth individuals who engage in tax underpayment, according to Financial Express. This decision follows the department's discovery that the reduction in the highest tax rate on personal income from 42.74% to 39% in the FY24 Budget has not deterred tax evasion among HNIs. In this year's Budget, the …
Taxes are a big levy on regular income of a person, or a corporate body. A new book titled Loophole Games: A Treatise on Tax Avoidance, written by Smarak Swain, reveals these many methods of dodging taxes. Through a process called externalization, many Indian start-ups are creating offshore parent companies, so that they can shift their profits to the parent …
