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Re: Tax evasion can be done or not?
13-Aug-2023 (In Tax Law)
An unregistered business attempting to set up business in another country where the actual owner does not use his name to set up accounts the payments don't go to India (To the business set up in the foreign country) Is this legal?
Indian taxation laws would be applicable if the profit either accrues or arises in India.
Setting up a shell company in a tax friendly overseas jurisdiction is like circumventing the law.
Besides not using the credentials of the actual owner and putting someone as a front would also make you liable under the benami transactions law.
FATCA , DTAA, FEMA guidelines would need to be adhered to before dying any such transaction.
I would strictly advice against doing something against the law of thebland.
Setting up a shell company in a tax friendly overseas jurisdiction is like circumventing the law.
Besides not using the credentials of the actual owner and putting someone as a front would also make you liable under the benami transactions law.
FATCA , DTAA, FEMA guidelines would need to be adhered to before dying any such transaction.
I would strictly advice against doing something against the law of thebland.
Helpful?
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Your question is not clear. Please state it clearly with some example and illustrations to get correct and exact answers. Tax evasion is itself a fraud by any means. You shall ask whether under your condition is it tax evasion or not? Whether tax need to be paid or not?
Helpful?
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Adv. Veer P. Singh
Delhi | 25+ Answers
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