20 December 2010
i have seen many CA, who had become members in more than 1 HUFs,open more than 1 company (though those were on paper) and presently, CA is becoming memeber of more than 1 HUFs, oppening more than 1 company and in future also they will become member in more than 1 hufs,will oppens more than 1 company.
i also know that in the name of Tax planning they are evading the tax, but don't know how they are managing the transactions from transfering income from one company to showing payment to other for some service / job charges by passing just an book entries.
can anybody have moreidea about this, please reply me
By default, we are a part of a corrupt system. It is improper to single out the CA profession.
You may be aware of the Supreme Courts remark observing that nothing moves in our country with out money, particularly, the Income-tax, Sales-tax and Central Excise Department.
If I prefer not to be pedantic, in this backdrop, virtually, there is no difference between tax planning and tax avoidance.
CAclubindia
