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Revision as of 19:24, 1 September 2026


Offshore tax evasion is crime in several onshore countries and includes jail time so it always be avoided. On another hand, offshore tax planning is Not a crime.

B) Interest earned, nonetheless paid, during a bond year, must be accrued at the conclusion of the bond year and reported as taxable income for that calendar year in which your bond year ends.

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If any books of accounts, documents, assets found or seized belong for any other person, the concerned AO shall proceed against other person as provided u/s 153A and 153B. The assessment u/s 153C should also be completed with twenty one months of the end belonging to the financial year when the search was conducted like assessment u/s 153A.

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