Over Invoicing and Off shore evasion
It seems one of the common ways for companies to cheat govt and tax payer is to over invoice their domestic indian company using a shell company in a tax haven.
With that profitability of Indian company goes down, money flows to foreign company and the foreign company belongs to promoter at arms length (with a partner as majority shareholder)
This is how tax evasion takes place and all the khiladis do it.
If thats not enough they deprive the domestic entity (which also has loans) so much that lead to NPAs for banks.
They also give funding to various political parties so no one touches them. They also take care of babus and bankers. more
With that profitability of Indian company goes down, money flows to foreign company and the foreign company belongs to promoter at arms length (with a partner as majority shareholder)
This is how tax evasion takes place and all the khiladis do it.
If thats not enough they deprive the domestic entity (which also has loans) so much that lead to NPAs for banks.
They also give funding to various political parties so no one touches them. They also take care of babus and bankers. more
Viewed by 1048
The government is presently doing a commendable job on identifying shell companies and their illegitimate transactions. Any specific information must quickly be brought to the government's notice. more
Nov 12
Please bring such information with www.cvc.nic.in Or at least use Namo app This will help the nation and our coming generations more
Nov 11
