Tax fraud is a big problem and it is not a hard task for the criminals. There are many tax frauds, which elude the tax department and shows that they have no proper or fixed source of income. The episodes of Tax evasion are massive and its extent can never be known properly.
Many people, who do not have a fixed source of income, highlight themselves as self-employed persons. They have no income proof, and in this manner, they can easily elude the tax. Teachers and doctors are the best evaders of tax, as they do not have proof of their private practice. They easily escape the tax that has to be paid to the Government at the time of year-end.
People, who are Government servants, are bound to pay the Income tax and there is no question of committing fraud. Tax is deducted from their income at the end of the year and a certain amount is deposited with the Government. Although, if the same employee has taken any loan like Home loan or any other loan, then there is some tax rebate. However, under no circumstances, there is any chance to elude the tax at any cost.
The concept of taxpaying is made to assist the Government funding that is again beneficial to meet the expenses of the Government. The tax should be paid in time and no one should try to escape from taxpaying. If caught red handed, then it is subjected to criminal offence and the consequences are bad. Fraud people are fond of tax evasion and they do not fear the consequences at all.
Genuine taxpayers are always appreciated and they are the responsible citizens of the nation. The country is always proud of its countrymen, who pay their tax on time. Good and big companies like ‘Kobian Financial’ pay their tax on time. That is always a good thing.
No comments:
Post a Comment