Tax escape hatch shrinks for India’s cash kings
Synopsis The taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department to
Synopsis The taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department to confiscate it. Even if tax is paid, individuals can't escape benami law if they fail to reveal the source of the money, impacting those trying to regularize unaccounted wealth.
The BriefWire