According to reports, the Central Board of Direct Taxes (CBDT) has recovered a substantial amount of Rs 20,000 crore in an income tax evasion case. Key highlights include:
• Recovery amount almost doubled from the previous year.
• CBDT suspects tax evasion or underreporting.
• The significant recovery signals a crackdown on tax malpractices.
The development underscores the government’s efforts to tackle tax evasion and ensure compliance with tax regulations, potentially impacting Indian businesses and investors in the long run.
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