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What are examples of tax evasion?

Some of the examples of tax evasion are showing false records, hiding income, declaration of less income or profits than the amount actually earned, overstating their deductions, etc. You can read about the Black Money, Tax-Evasion & Tax-Avoidance in the given link.

Storing wealth outside the country is also an example of tax evasion.

Further readings:

  1. Double Taxation Avoidance Agreements (DTAA) – Countries Involved, Income Tax Provisions
  2. UPSC Mains General Studies Paper-III Strategy, Syllabus & Structure

Related Links

Value Added Tax (Subsumed by GST) – Overview, Differences with Income Tax, Limitations

General Anti-Avoidance Rule (GAAR) – Anti Tax Avoidance Law in India

Previous Years Economics Mains Questions for UPSC General Studies Paper – 3

Economics Notes For UPSC Examination

Demand and Supply – Demand Curve, Supply Curve & Market Equilibrium

Topic-Wise GS 3 Questions for UPSC Mains

Minimum Alternate Tax (MAT) – UPSC Indian Economy Notes

Carbon Tax – Meaning and an Overview [UPSC Notes]

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