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Income escaping assessment is done by the evaluating officer if there is a cause for him to believe that income chargeable to tax has escaped assessment for any assessment year. It’s essential to compute your taxes with proper tax planning, but sometimes people use unfair means to avoid taxes or reduce the tax burden known
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India and United States of America signed an inter- governmental agreement for exchange of country- by –country (CbC) reports on March 27, 2019. This enabled both the countries to exchange CbC reports filed by the ultimate parent organizations of multinationals in respect of jurisdictions, pertaining to the years commencing on or after January 1, 2016.
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Tax is the primary compulsory public contribution of government revenue where finance data may have a direct impact on taxes triggering a company’s operations, risks or opportunities. Taxation could change radically as with effect from April 1, 2019 of the financial year, the taxman will begin looking into 360-degree profiles of Indian taxpayers. Tax evasion is
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