Gold crazed malayalees and tax evasion
November 28th, 2007
Malayalees are crazy when it comes to Gold. If you watch TV ads, after a while you will think gold is essential for the survival of a Malayalee. Media and gold companies find new ways to make malayalees buy gold, such as declaring a day as the auspicious day for buying gold!
It is also an open secret that most of the gold companies are involved in huge tax evasion. People rarely demand for tax receipts and most of the time what you get is an estimate. And only god knows what is meant by “pure gold”..
But if you are in illegal business, you need to keep the authorities happy (read bribe). Otherwise this will happen,
KOZHIKODE: Income Tax Department has conducted a massive raid on various premises of Malabar Group of Companies, a prominent gold store chain in South India, and detected multi-crore tax evasion.
That apart, several documents suggesting land dealings involving unaccounted money were also seized. The raid was on November 20.
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April 27th, 2008 at 7:17 pm
sir,
if u arranging tips for gold trading daily (intraday or long term) we are pleased to subcribe the offer please if u in same business or in physical selling or buying gold 999.9 or 99.9 u please mail me or phone me
with regards
vishwanath
9989777994