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A lot of tax evasion is because of the complexity of Tax code. If you are in Mumbai and if you are selling an assembled PC you have to pay around 10 different t
by tn13 10y ago
A lot of tax evasion is because of the complexity of Tax code. If you are in Mumbai and if you are selling an assembled PC you have to pay around 10 different taxes and 2 cess.
The NDA government has finally come up with GST which will replace majority of these taxes while making the tax compliance significantly easier.
The current sweep has increased the risks for keeping lot of cash in hand FOREVER. Just like how 9/11 has changed the air travel forever. I already see the trends where people are now focusing more on Gold, Hawala, Casinos and other means of investing their cash.