MUMBAI: The direct tax department has started scrutinising invoices of companies to check for tax evasion even as the indirect tax department continues its aggressive drive against tax dodgers. The income tax department has started scrutinising financial statements of companies to check if there are any fraudulent transactions or false entry that could result in low payment of taxes.The tax department is questioning certain transactions where it suspects either the sale has not happened or in cases where it’s difficult to verify details of companies or clients, said people in the know.The tax department suspects that several companies are forging financial statements so that they have to pay fewer taxes. The tax department is relying on a newly inserted section in the tax regulations that refers to a “false entry (accounting entry) or omission of an entry” for evading taxes. The tax department would also start scrutinising sale and purchase invoices of companies and … [Read more...] about Income tax department starts scrutinising fake entries, fake invoices of companies
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Percentage Of Covid-19 Deaths In L.A. ICUs Has Doubled Since October; “Serious” Vaccine Supply Problem
Over the weekend, Los Angeles Public Health Department announced that the much-talked-about UK variant of Covid-19, known as B.1.1.7, had been identified in the region. B.1.1.7 is thought to be up to 50% more transmissible than the more widely spread form of the virus. The number of LA residents infected with the UK variant was thought to be small still. … [Read more...] about Percentage Of Covid-19 Deaths In L.A. ICUs Has Doubled Since October; “Serious” Vaccine Supply Problem
Joe Biden sworn in as 46th president of the United States — as it happened
US election: How much power does the US president have? Hold up there with those troops! The president is commander in chief of US forces, but Congress declares war. The president can involve troops in armed conflict without Congress' approval, but this remains hazy. For instance, Congress saw the US' growing involvement in the Vietnam War on a resolution basis as going too far; it stepped in via law. In short, the president keeps some competencies only until Congress cuts in. … [Read more...] about Joe Biden sworn in as 46th president of the United States — as it happened
West African fufu is the latest viral food on TikTok
Next, the egusi. "I don't know what they put it in, I couldn't even start to guess," Hull said. "Oh my goodness, it's hitting." Hull's fufu videos quickly spread on TikTok, amassing more than 6 million views, but her intention was never to go viral. "I just wanted to get some good food and record it, so that other people could see that it's good food," she said. … [Read more...] about West African fufu is the latest viral food on TikTok
Instant loan Apps fraud gang busted in Hyderabad; 4 members, including a Chinese national, arrested
These applications are developed in such a way that on installing these apps they get access to the contacts, mobile information, and other data on the device. These applications collect the Id proofs, PAN card, KYC documents, Bank account details of the customers. They check the genuineness of the documents and disburse small amounts in the form of loans to their bank accounts by debiting the processing charges and GST i.e., 25-30% in advance. There will be two categories of loan period 1) 7 days and 2) 15 days. … [Read more...] about Instant loan Apps fraud gang busted in Hyderabad; 4 members, including a Chinese national, arrested