Tax Evasion in Delhi - Inputs needed
We will then submit a whitepaper to the CM and his leadership team for actions.
Tax evasion in Delhi – Root Cause
1. Non uniform taxes and complicated tax structure
2. Taxes on some products is different in different states
3. Businessmen try to make more and more black money
4. Retailers ask for cash payments so that they don’t need to issue a receipt
5. Tax officials desire to make money by taking bribes and helping in tax evasion
6. The process starts with finding mistakes so that tax officer can ask for money
7. Properties are undervalued so that the parties can save on taxes that are supposed to be paid to the Government
8. Real estate and jewellery businesses have the most high value transactions
9. The circle rates of real estate quoted by Government are low in some cases
10. There is lack of awareness among buyers about the different way of tax evasion by the shopkeepers, even when they are paying the full amount
11. Government websites are not regularly updated
12. Loopholes can easily be found in the Indian Taxation system
13. Charity and trusts are used as fronts to hide profits and evade taxes
14. Lower class employees are asked to sign receipts of higher amount than they are actually paid.
Tax evasion Issues in Delhi - Key Issues
1. Rate of taxation is very high
2. Tax officials ask for bribe to help evade taxes
3. Most of the stores ask for cash payments
4. Many of the retail shops in Delhi do not issue an invoice to the customer
5. Doctors & lawyers do not issue receipts for their consultation & other services
6. Actual value of property is not disclosed during transactions
7. Properties are undervalued to save on stamp duty
8. Real estate & Jewelry business are sectors where biggest tax evasions happens
9. There is no helpline to register complaint against those who don’t issue the bill
10. Property prices and other related information aren’t available on Government websites
11. The products are under-valued while importing to evade taxes
12. Collected service taxes are not deposited with the Government
13. The practice of getting duplicate bill books printed is rampant among businessmen. more