Question

Susie is involved in tax evasion and has stored up black money. However, the income tax department suspected misconduct and conducted raids. What are the penalties that Susie might get?

• A. Excused with warning
• B. Imprisonment up to five years
• C. Hefty fines
• D. Payment of interest for the amount

Answer 1

Answer: (B), (C)

Hefty fines

The wilful act of tax evasion and keeping of black money are grave offences. The penalities may be harsh, based on the severity of the crime. However, the felon might be charged with imprisonment of up to five years and high amounts of fines.