How Scamsters Convert Black Money to White-Two Books Released Tax Evasion Through Share

By: PRLog
Two books titled- Tax Evasion Through Shares and Taxing Question Simple Answer, have just been released in eBook format. The first book reveals tricks tax evaders apply and also how they can be caught; the second book clarifies complex tax issues
PRLog - Oct. 25, 2013 - India has witnessed unprecedented amount of large scams in form 2G spectrum, Coal block allotment, iron ore mines scam etc. All these scams must have given rise to thousands of crores of black money.

Whenever  black money through scams are generated by businessmen,bureaucrats & politicians, the first problem they face is of bringing the unaccounted black money to his/her use. Businessmen can not show such money in their declared accounts. The problem is severe for the politicians and bureaucrats who does not indulge in businesses.

So, they choose the perfect slave for this money laundering.

Who and Why of  a Perfect Slave?

Because a company has neither Eyes or Ears or Mouth or Even Mind. It acts according to its master-majority shareholder. If ill gotten money is given to a human being, he has ears, eyes, mouth and a mind of his own. So there is always risk of losing money, whereas in case of company, there is no such risk.

Thus, scamster register a private limited company or even a trust wherein he by routing money through various layers of channel deposit as share capital  under the garb of share premium money. In case of trust, funding is done in garb of legitimate donations.

New eBook to Catch Tax Evaders

Here are two books - one on the tax evaders' tricks and another on solution to chosen very hard and complex questions.

The first edition of Tax Evasion Through Shares was first published in the year 2008 has now been revised to 3rd edition in form of eBook. This book is a step wise guide for everyone who wants to understand how unscrupulous people use share transactions for evading tax. The book was primarily intended for officers of income tax department to help them detect,inquire and assess cases related to such tax evaders, but now it is revised to include broader idea on the subject, so that anyone who desires to understand the tricks tax evaders play can get the knowledge on the issue. The book, divided in three parts, includes many supporting case laws.
Major Topics of the Book are:

1.Use of Bogus Purchase Of Shares to Reduce Business Profit
2. How Unquoted Shares Are Used for Tax Evasion
3. Evasion Through Reverse Conversion Of Shares?
4. Use of Speculation Loss for Tax Evasion?
5. How To Detect Closing Stock Undervaluation?
6. How To Detect If Short Term Is Claimed As Long Term Gain?
7. Why Should You Scrutinize Transactions Statement?
8. How Family and Private Companies Are Used For Evasion?
9. How To Decide If Share Transaction Is Business Or Investment Activity?
10. Why Should You Scrutinize Transactions Of Last Seven Days?
11. How To Handle Cases Of Evasion Through Penny Stocks?
12. Why Should You Keep An Eye On Warrant?
13. How Preference Share Creates Capital Gains?
14. Can Scrutiny Of Security Deposit Bring Tax?
15. Why Knowledge Of SCRA Is Important For Share Cases?
16. How To Easily Apply Explanation To Section 73?
17. ESOP, Phantom Stock Option & A Rewind on FBT!
and much more

Buy  Tax Evasion Through Shares

Taxing Question, Simple Answer

Taxing Question, Simple Answer - Volume -1 is an eBOOK devoted to chartered accountants, lawyers, tax officers and tax practitioners to provide answers to most complex tax questions and difficult to find answers.

The selected 25 tax questions are not easy to find answers and nothing is clear in the Income Tax Act. Supreme Court, High Courts have come to the rescue of everyone to provide answers.
Following topics are dealt in the book:

Section 6: Should Visit Days be Excluded For Determination of Residential Status if NRI Permanently Settles in India?
Section 10(17): Are All Awards Given By Central Government Exempt From Income Tax?
Section 11: Are All Charitable Trusts Prohibited from Carrying Business Activity?
Section 15: Is Salary of NRI From Employers Abroad But Received in India in NRE A/c taxable?
Section 15: When Is Provident Fund Savings Taxable?
Section 22: Under Which Head The Rental Income From Leasehold Property Taxed?
Section 32: Can You Claim Depreciation Without Being Owner of Asset?
Section 45: Whether Unutilized Amount In Capital Gains Account Scheme Received By Legal Heir Taxable?
Section 45: Which Date-Booking or Possession or Registration -Is Important For Capital Gains Tax?
Section 50: Can Exemption 54EC or 54F be claimed on Sale of Depreciable Asset?
Section 54: Can One Get Exemption U/s 54F Even If Builder Does Not Complete House Within Three Years?
Section 54: Is exemption of capital gains u/s 54 allowed even when new residential property is purchased in foreign country!
Section 56: Can a Private Limited Company Become Public Substantially Interested Company Without any IPO?
Section 70: Can Short Term Capital Loss On Shares Taxable U/s 111A Be Adjusted With Short Term Loss On Land?
Section 80: Can You Claim Carry Forward of Loss Despite Late Filing of Return?
Section 127:Can A.O Transfer a Case to Another A.O Without any Transfer Order by CIT ?
Section 139(5): Can Revised Return u/s. 139(5) be Filed Even During Scrutiny Proceedings?
Section 154: Can A.O Pass Rectification Order u/s 154 Even After Time Limit?
Section 148: When is Notice u/s 148 Considered Issued-at the Time of Signing by A.O or Entering in Issue Register by Clerk or Handing Over Notice to Postal Agent?
Section 153A: Is issue of notice u./s 143(2) mandatory in case of assessment u/s 153A?
Section 161: Can Private Trust Still Be Used For Tax Planning?
Section 171: Is Order by an A.O Compulsory For Partition of HUF?
Section 194A: Whether Hire Purchase EMI Payments liable to TDS u/s 194A?
Section 263: Limitation Date for Invoking Sec. 263 is Counted from Assessment Order Date or Reassessment Order Date?
Section 273A: Can Higher Authority Drop Penalty Proceeding Pending Before the A.O?

You can buy the Taxing Question Simple Answer

booksontax.com

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