What is considered tax evasion?

Tax evasion is an illegal activity. It involves avoiding payment of liable taxes by companies or individuals through illegal means. As per laws, tax evasion is a serious crime. You can read about the Black Money, Tax-Evasion & Tax-Avoidance in the given link.

Some of the ways tax evasion is by showing false records, hiding income, declaration of less income or profits than the amount actually earned, overstating their deductions. etc. Tax evasion is a deliberate underpayment of tax. Tax evasion is the willful and illegal evasion of taxes

Further readings:

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

Leave a Comment

Your Mobile number and Email id will not be published.

*

*