Aditi Anita Mane
Symbiosis Law School, Pune
“In 1790, the nation which had fought a revolution against taxation without representation discovered that some of its citizens weren’t much happier about taxation with representation.”
(Lyndon B. Johnson)
Rooting for taxes has never been an easy task as almost the entire population on this planet questions the concept of giving away a part of their earnings to the government. Nevertheless, one cannot deny the fact that the collection of taxes is an important source of income of the government. With the country facing a lot of problems for instance generation of black money due to corporations committing tax frauds, the author attempts to deal with the varied legislative framework adopted by the government and tax authorities to audit the undisclosed transactions to limit the menace of corporate tax evasion in a developing country like India. The research paper scrutinizes the limitations and issues allied with the steps taken by the legislative wing to curtail this issue. The author concludes the research paper by attempting to understand the shortcomings that lead corporates to take destructive measures on developing nations to indulge in tax evasion.
Lyndon B. Johnson was a politician and was elected as vice president. he served as the 36th president of the united states of America from the time period of 1963 to 1969. This was after John F. Kennedys assignation.