Claiming fake ITR refunds? Here's what could happen
The department has used different databases to spot those who might be making fake claims.Officials said they have now started surprise checks and searches at around 150 places in states like Maharashtra, Tamil Nadu, Delhi, Gujarat, Punjab and Madhya Pradesh. These searches are expected to bring out digital records and other evidence showing how such fake claims are being made.FAKE CLAIMS RACKETS BUSTEDOfficials said that detailed checks found that some tax return preparers and middlemen were running well-organised rackets. These people were helping taxpayers file returns with made-up deductions and exemptions.CHANCE TO FIX MISTAKESTo give honest taxpayers a chance to fix their mistakes, the department had earlier asked people to revise their returns if they had claimed any wrong deductions.In the past four months, about 40,000 people have come forward and corrected their tax returns, giving up fake claims worth about Rs 1,045 crore. But many taxpayers did not update their returns, possibly due to the involvement of agents behind these frauds.STRICT ACTION AHEADThe Income Tax Department has warned that strict action will be taken against those who continue to make fake claims. This includes fines and even court action if needed.Officials said this large verification drive will help break the networks that encourage such fraud and send a strong message that taking shortcuts in taxes will not be tolerated.- EndsTrending Reel
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Time of India
19 minutes ago
- Time of India
DMC and Tinsukia NFR partner to better waste management at 12 Dibrugarh rail colonies
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Time of India
19 minutes ago
- Time of India
Take permanent licence to serve liquor, excise department to tell restaurants
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Time of India
19 minutes ago
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Cops recover 39L out of 40L robbed sum
Kozhikode: In a significant breakthrough in the case of robbing Rs 40 lakh from a bank employee at Pantheerankavu near Kozhikode, police have recovered Rs 39 lakh of the swindled amount. Tired of too many ads? go ad free now The money, part of the amount robbed by accused Shibin Lal, was found packed in plastic and buried in a plot about half-a-kilometre from his house at Pallipuram near Pantheerankavu. The robbery took place on June 11 and Shibin Lal was arrested three days later. At the time of the arrest, only Rs 55,000 was recovered and Shibin Lal claimed to have handed over ₹45,000 to a third accused, Dinaranju alias Kuttappi. The second accused, Shibin Lal's wife Krishnalekha, and Kuttappi were arrested on June 23. Shibin Lal and Krishnalekha misled officials at ESAF Bank by claiming that they had gold worth Rs 40 lakh pledged at a private firm. They produced fake receipts and convinced the bank to give them Rs 40 lakh in cash to take over the pledged gold and mortgage at ESAF bank. The bank staff came to Pantheerankavu with the required cash to reclaim the pledged gold from the firm where he had pledged it. As the bank staff stepped out of the car, Shibin Lal snatched the cash from them and fled on a scooter parked nearby. Though Shibin Lal was interrogated twice after the incident, he consistently withheld the location of the remaining Rs 39 lakh. It was only during a third custodial interrogation that he confessed and revealed the location where he had buried the money. Police said shortly after the robbery that Shibin Lal switched off all three of his mobile phones. He set aside Rs 1 lakh for his expenses and secretly buried the remaining Rs 39 lakh in a private property, before escaping to Palakkad. Tired of too many ads? go ad free now Feroke ACP A M Siddique said the breakthrough came following a tip-off that someone had approached a private financial institution on Shibin Lal's behalf, asking whether a Rs 35 lakh one-time settlement could be made in lieu of an outstanding ₹80 lakh loan. Another lead came from CCTV footage in Kondotti area which showed Shibin Lal travelling without the bag. After that Shibin Lal was questioned again during which he revealed the actual location.
