Tax evasion Rs.1,52,000 Cr in last 3 years: The information released by the Finance Ministry discloses tax evasion from April 2014 to June 2017. This amount is so much that the expenses of city Bangalore can be managed for 19 years of the Mumbai Metropolitan for Seven Years.Out of Rs 1,52,000 cr 76, 239.22 cr are in a direct tax form and the remaining amount is Rs. 76,535.42 cr in the indirect tax form. These include service tax (47,188.95 cr) customs duty (10,392.19) and central excise (18,954.28 cr).However, there is no separate data for multinational companies, but the Finance Ministry said action has been initiated against all the companies involved in tax evasion. According to the ministry, the investigation, survey, assessment of income, a collection of tax, the penalty of a project in front of the Criminal Court has already begun.According to the available data from media, 2,246 firms have admitted that not to disclose the income of Rs 3,9852.86 cr. According to senior officials of the ministry, names of companies can not be disclosed until the full process is completed. Central excise, service tax and custom theft methods are also being explored.For the 2017-18, the Bangalore Municipal Corporation’s budget is about Rs 8,000 cr, while the Bombay Municipal Corporation’s budget is Rs 25,000 crore.
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