Tax Evasion and False Declaration
tax bar_exam advanced case_analysisArjun files a tax return, declaring a loss of Rs 1 lakh, but actually earns a profit of Rs 5 lakh from his business. He didn't deposit the TDS deducted on the income of his employees, nor did he pay the advance tax.
His tax liability is now due for Rs 5 lakh (actual profit) + 1 lakh (TDS + advance tax) = Rs 6 lakh. What legal remedy applies to Arjun for evading tax and making a false declaration? Will he be liable for imprisonment or a penalty? Can the assessing officer cancel his tax clearance certificate?
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Aapki baat bilkul sahi hai. Tax Evasion aur False Declaration mein koi bhi faislein karna kanooni tareeke se gundarughar hai. Lekin, ismein alag se koi bhi praman ya davaa jodna aapki wajah se ho sakta hai, jiska prabhavi prabhav aapke case par bhi pad sakta hai.