tax evasion case

Uttar Pradesh STF arrested two B.Com graduates in Delhi for creating a network of bogus firms that facilitated fraudulent Input Tax Credit claims. The accused allegedly generated fake GST transactions and invoices, causing crores in revenue loss to the government. This operation is part of a larger interstate syndicate investigation.

Shakira has been cleared by a Spanish court in a tax fraud case, with over 55 million euros in fines ordered to be returned. The court found insufficient proof of her residency in Spain for the 2011 tax year, stating she did not spend the required 183 days.

Ajay Devgn has publicly supported the Enforcement Directorate's fight against financial crimes, urging citizens to join the campaign for financial integrity. Meanwhile, the actor is actively involved in the shooting of 'Golmaal 5' in Ooty, with the team sharing behind-the-scenes glimpses. Devgn is also set to reprise his role in 'Drishyam 3'.

Small businesses and professionals under the presumptive tax scheme must now disclose investment details in their income tax returns. This new rule, introduced in ITR-4, aims to curb tax evasion by allowing authorities to compare declared income with investment patterns. Misreporting income can lead to hefty penalties, making compliance crucial.

Most Deals Originate From Gurgaon and Faridabad, Where Offices Either Failed To Report Transactions or Submitted Records With Incomplete PAN Details

B Fayaz Ahmed, an insurance and financial consultant here, was prosecuted in connection with the 2015–16 assessment year. According to the prosecution, Ahmed had declared a taxable income of about Rs 48 crore in his income tax returns but failed to pay the tax due on it.

Following his second apology for tax evasion, K-pop star Cha Eunwoo faces a petition questioning his military band assignment. Critics argue his public role and recent controversy warrant a review of his selection, citing potential damage to military trust. Authorities, however, maintain his posting adheres to internal regulations and are not investigating any changes.

Income Tax officials are conducting searches across 15 locations in Chennai and Puducherry linked to DMK functionary Jaffer Sadiq, arrested by the NCB for alleged drug smuggling. These raids, based on new information about significant tax evasion, are happening while the model code of conduct is in effect.

Hyderabad's 'gold man', Surya Bhai, famed for his opulent jewellery, has been exposed by income tax sleuths. Investigations revealed his dazzling persona was largely a facade, with most of his gold ornaments being imitation. His financial records and social work claims also failed to substantiate his wealthy image.