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(iv) All unaccounted income should be declared. If such a disclosure is based before its detection the actual Income Tax Department, chance is of being trapped in the transfer pricing tax raid are lowered. anjing This isn't to say, don't pay off. The point is there are consequences and factors you may not have fully thought about, especially for those who might go the bankruptcy route. Therefore, it is a good idea speak about any potential settlement using your attorney and/or accountant, before agreeing to anything and sending in that , check. People hate paying place a burden on. Tax avoidance strategies are entirely legal and should be made good use of. Tax evasion, however, isn't. Make sure you know where the fine line is.