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Business Today6 min letti
In Good Company
Venkat Rao, 46, a resident of Dantelaboru village in Bhadradri Kothagudem district, Telangana, started cotton farming after Class XII. The work was fraught with challenges. The yield was poor. The crop would get infected every now and then. The incom
Business Today1 min lettiPolitics
How Gst Is Evaded
FAKE BILLS: Availing input tax credit against fake invoices is a popular means of evading GST for many businesses. Such scams are prospering with the help of chartered accountants and finance professionals SPLITTING OF INVOICES: In some goods/service
Business Today10 min lettiPolitics
Taxman’s data War
Last year, a businessman from Rajkot, Gujarat, declared an income of less than ₹5 lakh in his tax return. However, information collated by the Income Tax (I-T) Department showed he had deposited ₹10 crore — and withdrawn ₹7.5 crore — in cash during t