When the taxman comes a-calling

Tax returns: A file picture showing people submitting their tax forms at the Inland Revenue Board office in Penang. Companies in Malaysia are increasingly becoming fearful of the taxman.

IN India, officers from the Income Tax Department are among the most feared. The mere mention of a raid by the tax department creates ripples even among the most powerful of politicians.

The fear factor is largely due to the large number of illegal transactions in that country to evade or minimise taxes. The fear is so overwhelming that even an ordinary person who has amassed wealth via legal means fears the taxman.