Description
Complete Guide on Bogus Purchases Under the Income Tax Act
The term “bogus purchases” refers to transactions that are either fabricated or falsely recorded, typically to claim undue tax benefits. This issue is a significant concern under the Income Tax Act as it involves companies or individuals claiming fictitious purchases to inflate their expenses, thereby reducing their taxable income.
TABLE OF CONTENTS
Chapter1 Introduction
Chapter2 Nuisances of Bogus Transactions
Chapter3 Role of Entry Providers
Chapter4 Role of Beneficiaries
Chapter5 Taxability of Bogus Purchases
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