Income tax evasion since 10 years.
6 months ago
I know few people who are landlords and are evading taxes since 10 years. They were raking 50-60 Lakhs per year in rental income off the books. They were taking everything in cash without providing PAN to their tenants. Now they have sold off some of their rental properties and again they have undervalued their property value to evade capital gains tax. I have all the proofs to back up. They have paid some taxes but nothing close to what they were supposed to pay.
I want to personally appear before income tax officer or DGIT in my city and spill all the beans. What are the possible implications for me here? Will they take my information seriously and act on it? Will they keep my identity secret?
A.Dear Client,
Reporting tax evasion is a civic duty, and the government takes such reports seriously. The Income Tax Department may maintain confidentiality about your identity. However, there is no absolute guarantee, and in some cases, your identity may be disclosed during legal proceedings or investigations. If you have concrete evidence to support your claims, it is essential to provide this information to the tax authorities. You can approach the Directorate General of Income Tax (Investigation) or the Income Tax Department of your city with the evidence. Explain the situation clearly, and if you have information about specific cases, provide the details. Once you've reported the tax evasion, be prepared to cooperate with the authorities during the investigation if required.
Reporting tax evasion is a civic duty, and the government takes such reports seriously. The Income Tax Department may maintain confidentiality about your identity. However, there is no absolute guarantee, and in some cases, your identity may be disclosed during legal proceedings or investigations. If you have concrete evidence to support your claims, it is essential to provide this information to the tax authorities. You can approach the Directorate General of Income Tax (Investigation) or the Income Tax Department of your city with the evidence. Explain the situation clearly, and if you have information about specific cases, provide the details. Once you've reported the tax evasion, be prepared to cooperate with the authorities during the investigation if required.
Helpful
Helpful
Share
Read Related Answers
Income Tax threshold for tax free pension
Dear Client,
Income Tax related issues are well addressed by a Chartered Accountant or an Income Tax Practitioner who possesses expertise and in-depth knowledge on the subject, So, you are requested t...
What should I opt Old Regime vs New Regime
Dear sir
You have to consult service advocate or a person who is expert in such subject otherwise you may be mislead.
Exemption on interest education loan
Dear Client,
Under Section 80E of the Income Tax Act, 1961, if an individual has taken an education loan and is repaying the same, then the interest paid on that loan is allowed as a deduction from hi...
Tax query
Dear Client,
Based on the limited facts you have stated, Take an assumption regarding the calculation of income tax in a financial year of your transaction where the amount is X from which 98% of X...
Claiming Leave Travel Allowance while filing ITR
Dear Client,
Without availing LTA if you claim its exemption in the ITR, it may be considered evasion of income tax once your ITR attracts scrutiny by the Income Tax Department and you may face legal...
Read Blogs on Tax-Income Tax
Tax-Income Tax Lawyers
Find Lawyers by Location
