DCS - Thy Tax Partner

Income Tax Search and Survey Procedure covering rights and duties of person searched   An income tax search and survey is a procedure carried out by the Income Tax Department to collect information and evidence related to the tax liabilities of a person or entity. The search and survey procedure can be initiated if there is suspicion of tax evasion or non-compliance. In this article, we will discuss the rights and duties of a person who is searched during the income tax search and survey procedure with insights from the tax consultants at Dudhoria Consultancy Services Pvt Ltd.   Rights of a person who is searched:   Right to be informed: According to the tax consultants at Dudhoria Consultancy Services Pvt Ltd, the person being searched has the right to be informed about the reasons for the search and the nature of the investigation.   Right to witness the search: The tax consultants further explain that the person being searched has the right to witn...

Now register your startup with us and avail free consultancy. To register yourself all you need to do is drop us a mail with the following details @ taxdcs@gmail.com or i nfo@dcstax.in Company's Name Contact Person Mobile Number Mail ID Upon registration you can book an appointment with our experts and get guidance in relation to your Startup, Registration of Company/LLP, Tax Planning & Complainces Drop us a mail:      taxdcs@gmail.com   or   log on to     www.dcstax.in Dudhoria Consultancy Services Pvt. Ltd. 56, Netaji Subhas Road, 4th Floor, Kolkata - 700001 Call us @ 9836388555 || 9830498417 Email: info@dcstax.in|| taxdcs@gmail.com | Web:  http://dcstax.in/

TAX  PLANNING V/S TAX AVOIDANCE V/S TAX EVASION Though the words – Tax Planning, Tax Avoidance and Tax Evasion – sound connected, yet there is significant difference in the three. TAX PLANNING : Tax Planning is the way to reduce the tax liability by availing the exemptions and deductions mentioned explicitly in the Income Tax Act and Rules. Planning one’s income and expenses so as to get the benefit of various exemptions and deductions is called Tax Planning. Investments in PPF, NSC, LICI, etc are eligible for deductions. Tax Payers are advised to make full use of the Tax Planning opportunities. TAX AVOIDANCE : Tax Avoidance is done when the tax payer takes advantage of the loopholes in the tax regime in order to reduce the tax liability. Tax Avoidance is also not illegal. There is a very thin line of difference between Tax Planning and Tax Avoidance. Where in Tax Planning, a Tax Payer is making use of the opportunities provided exp...