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BOGUS DEDUCTIONS
Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...- Rs 7 lakh income, Rs 2 lakh donation to a political party: How fake contributions led to Section 80GGC tax deduction claim rejectionA Mumbai man's Rs 2 lakh donation to a political party for tax deduction backfired. The Income Tax Appellate Tribunal (ITAT) Mumbai disallo...
- Over 15 lakh revised ITRs filed for current AY: CBDTMore than 15 lakh taxpayers have revised their income tax returns for assessment year 2025-26. The Income Tax Department initiated a NUDGE ...
- Income tax refund with wrong claims: Up to 200% penalty, criminal action for wrong tax refund claim; check exactly what will happenThe Income Tax Department has exposed a nationwide network of agents facilitating fraudulent tax deductions and exemptions, leading to ille...
- Got income tax refund email? Govt warns it could be a scam, tells taxpayers what to do immediatelyThe Income Tax Department has issued a stern warning to citizens. Scammers are sending fake emails and messages claiming tax refunds. These...
- Income Tax Department cracks down on taxpayers claiming refunds against donations to fake political parties, charitiesThe Income Tax Department is taking action against taxpayers who filed returns with fake deductions. Investigations revealed intermediaries...
- CBDT flags bogus claims on political and charitable donationsThe Central Board of Direct Taxes has uncovered significant misuse of tax deductions for political and charitable donations. A campaign has...
- Income-Tax Department unearths Rs 5,500 Cr donations racketA nationwide Income-Tax Department probe has revealed a massive scam involving over ₹5,500 crore in fake political donations. Thirty-six sh...
- Bogus deduction claims: I-T searches 150 sitesThe Income Tax Department executed a nationwide search across 150 locations, targeting entities suspected of claiming fraudulent tax deduct...
- I-T dept raids 200+ premises for fake deductions under political donations, tuition, medical claimsThe Income Tax Department has launched extensive raids across India, targeting individuals and entities involved in facilitating fake tax d...
- 90% or more taxpayers may shift to new regime with new slabs announced in Budget: CBDT ChairmanCBDT Chairman Ravi Agrawal expects over 90 percent of individual taxpayers to opt for the new tax regime following the Budget announcement ...
- Used donation to a political party for income tax deduction? IT dept is sending warning SMS; if it was a mistake file ITR-U by March 31, 2025Warning for political party donations: The Income Tax Dept is sending SMS to taxpayers who donated to political parties and had claimed sec...
- Revise your returns or face penalty: Taxman detects fake donations, issues warningThe income tax department has highlighted widespread bogus claims related to political and charitable donations, and investment and interes...
- 'Over 90k salaried wrongly claimed Rs 1000 crore tax benefits'Around 90,000 salaried employees have wrongly claimed tax deductions worth ₹1,070 crore until December 31, 2024, according to the Income Ta...
- 90,000 salaried individuals withdraw Rs 1,070 cr worth wrongful tax deduction claimsAround 90,000 employees from PSUs and private sectors have withdrawn false tax deductions claims amounting to Rs 1,070 crore as of December...
- Making exaggerated, bogus claims to get refunds punishable offence: I-T DepartmentThe Income Tax Department urged taxpayers to file accurate returns and avoid false claims for deductions or expenses to ensure timely refun...
- Large number of IT, govt employees from Andhra Pradesh filed incorrect returns: Income Tax dept"Many of the assesees work in government departments, PSUs and prestigious IT companies. It is also noticed that a large number of such tax...
- I-T dept searches ZTE India's five premises, including CEO residenceZTE currently maintains networks in three circles for Vodafone Idea and six service areas for state-run BSNL.
- One arrested in connection with fake GST invoices worth Rs 72 croreFake e-way bills were generated for several vehicle numbers, bogus invoices were received by the accused from the operator of fake firms fo...
- CBI files FIR against scamsters filing returns under fake TDSThe deduction was also mentioned in the forms issued to the taxpayers on the basis of which they claimed tax refunds from the income tax de...
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