Voluntary tax compliance.

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..... -corporate assessees returning income upto Rs. one lakh. The Department hopes that as a result of these measures, the level of voluntary compliance will go up substantially, resulting in a large number of tax payers filing returns of income for the current and even earlier years showing substantially larger income, including incomes which had hither to not been disclosed. 2. It is true that the .....

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..... this approach is to unearth the considerable amount of black money which is vitiating the economy of the nation. It may happen under these circumstances that a person files an estimate of income-for Advance Tax purposes showing a very high figure in the current year. It should be obvious that such a higher estimate of income would not represent his income of the current year alone but possibly als .....

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..... come which could not be accounted for by the assessee's estimated for the current year. Obviously such an approach can apply only to cases where the concealment in the earlier year is not in the from of tangible assets. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT .....

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