IT Department Targets Jewellery Businesses for False Tax Losses

Income Tax Action on Jewellers Using Fake Loss Trick

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Income Tax Action on Jewellers’ Fake Loss Trick, Income Tax Action on Jewellers, IT Dept Cracks Down on Jewellers’ Fake Accounting,

Recently, the Income Tax Department was able to find out that jewellers in India were involved in a massive fraud which involved making false entries on inventory valuation so that the businesses could report losses and claim unjustified tax refunds. This scheme is not just poor accounting; it is a calculated action of tax evasion … Read more