A genuine presentation on tax evasion and methods of tax avoidance.

1. KOMAL (461)
PRATIBHA
(178)
RAHUL (580)
ANKIT (546)
ADARSH (556)
PRERNA (557)
PTP PRESENTATION

2. Tax evasion is the illegal evasion of taxes by
individuals, corporations, and trusts. Tax evasion often entails
taxpayers deliberately misrepresenting the true state of their
affairs to the tax authorities to reduce their tax liability and
includes dishonest tax reporting, such as declaring less
income, profits or gains than the amounts actually earned, or
overstating deductions.
TAX EVASION

3. SMUGGLING
EVASION OF WEALTH TAX, CUSTOM DUTY, EXCISE DUTY
SUBMISSION OF FALSE RETURN.
SUBMISSION OF FALSE CERTIFICATES TO GET DEDUCTIONS.
CHARGING PERSONAL EXPENSES AS REVENUE EXPENSE.
DUMMY SALARY ENTRIES
WAYS THROUGH WHICH PEOPLE CAN EVADE TAXES:

4. WHEN QUANTUM
INCOME NOT DISCLOSED 100 -300%
FAILS TO FILE TAX STATEMENT 200 RS. PER DAY
FAILS TO GET AUDITED OR
PROVIDE AUDIT REPORT
1.5 LAKHS OR 0.5%
WHICHEVER IS LESS
NOT FILING INCOME TAX
RETURN
5000RS.

5.  HIGH RATE OF TAXATION: high rate of taxation causes burden on people. So they
avoid tax.
 FAILURE TO CURB BRIBERY: There should be adequate system to curb
corruption. Because these people help taxpayers to avoid tax by taking a portion of
the amount evaded.
 LACK OF SIMPLIFIED PROCEDURE: tax structure in India complex and people
find it difficult to go to different department for a single matter.
 FREQUENT CHANGE IN GOVT. AND POLITICAL INSTABILITY: Different govt
makes different policy and it becomes difficult to follow.
LIMITATION OF INDIAN TAX STRUCTURE
WHICH RESULT IN EVASION:

6. Tax avoidance is the legal usage of the tax regime in a single
territory to one's own advantage to reduce the amount of tax
that is payable by means that are within the law.
 Tax avoidance is the use of legal methods to modify an
individual's financial situation to lower the amount of income
tax owed. This is generally accomplished by claiming the
permissible deductions and credits.
TAX AVOIDANCE

30. m

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