Common Mode of Tax Evasion

Common Mode of Tax Evasion As Amended by The Finance (No.2) Act, 2024

This 2024 Edition of Common Mode of Tax Evasion by Ram Dutt Sharma, updated with all amendments introduced by the Finance (No. 2) Act, 2024, serves as a detailed and practical reference for understanding the various techniques, loopholes, and schemes used to evade taxes, along with the legal consequences and preventive measures under Indian tax laws.

The book offers a comprehensive examination of tax evasion in the context of direct taxes, enabling readers to identify, analyse, and address such practices effectively. It provides legislative provisions, case laws, and procedural guidelines to combat tax evasion, making it an invaluable resource for tax administrators, legal professionals, and compliance officers.

The content covers:

• Definition and scope of “Tax Evasion” under Indian law

• Distinction between tax evasion, tax planning, and tax avoidance

• Common evasion practices relating to income from business, profession, and other sources

• Methods of concealing income and inflating expenses

• Misuse of exemptions, deductions, and allowances

• Manipulation of books of accounts and use of fake invoices

• Unaccounted cash transactions and benami arrangements

• International tax evasion and use of offshore entities

• Legal provisions to detect and penalise evasion under the Income Tax Act, 1961

• Role of tax authorities in investigation, search, and seizure operations

• Penalties, prosecution provisions, and compounding of offences

• Judicial pronouncements shaping anti-evasion enforcement

• Recent government initiatives, data analytics, and AI-driven detection tools

This edition is particularly suitable for:

• Chartered accountants, tax consultants, and advocates involved in compliance and litigation

• Enforcement officials in the Income Tax Department and other investigative agencies

• Students of law, commerce, and taxation preparing for professional examinations

• Corporate compliance officers and auditors assessing anti-evasion safeguards

• Policymakers and researchers studying trends in tax evasion and enforcement

By blending statutory analysis with real-world examples and judicial insights, this book equips readers with the knowledge and tools to identify and address tax evasion effectively under the current legal framework.