With the Modi government tightening its noose on tax evaders, there has been a tremendous rise in the number of prosecutions initiated by the income tax department. Taxpayers are receiving notices requiring them to furnish details of transactions. The government is gearing up for stricter enforcement, especially in cases where there is wilful attempt to evade taxes or penalty.
- Suraj Nangia, Partner contributed an article on How limited scrutiny approach can avoid pendency of tax litigation cases, arrears and delays for Financial Express.
(with inputs from Vasudha Arora)