Searched for
FALSE DEDUCTION CLAIM
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...- ‘Exams khatam, tension nahi’: How CBSE reevaluation, blurred sheets and tech glitches created endless trouble for students this yearStudents and parents are experiencing fresh anxiety after board exam results. The CBSE answer sheet access and re-evaluation process is mar...
- SBI paid extra pension by mistake, then recovered it; court orders Rs 3.6 lakh refund with interestA Delhi widow, solely reliant on her family pension, has been granted relief by the High Court after the State Bank of India made erroneous...
- Season’s Greeting? Taxman turns New Year party pooperTaxpayers are receiving unexpected emails from the Income Tax Department. These messages halt tax refunds due to discrepancies in claimed d...
- Shinde wins Rs 1.4 lakh tax penalty case despite claiming false income tax deductions to reduce income by 50%; Know the detailsMr. Shinde faced a penalty for claiming false tax deductions. He blamed his consultant, Mr. Patil, for the error. Shinde promptly paid the ...
- Manipulated again: I-T busts fresh fraud in political donation tax deduction claimsThe Income Tax Department is cracking down on fraudulent tax deductions, revealing manipulation even after taxpayers were given a chance to...
- 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...
- ITR filing for AY 2025-26: 7 prominent changes in ITR excel utilities for FY 2024-25, which taxpayers including salaried should knowThe income tax department has introduced enhanced validation rules in the ITR filing utility for FY 2024-25 (AY 2025-26), primarily affecti...
- ITR refund or TDS credit claimed through common email or mobile comes under scrutiny; High risk tax refund cases to be investigatedIncome Tax Refund: The tax department is planning on investigating high risk tax refund cases relating to AY 2024-25 (FY 2023-24). "In the ...
- Made false deduction claim in ITR? Income tax dept wants employees to rectify this and pay the due tax or be ready for penal actionIncome tax deduction: Incase you have mistakenly claimed a incorrect or wrong tax deduction or exemption and thus as a result your tax liab...
- Salaried getting income tax notices for deductions of FY21-22 ITR: Watchouts for current ITRSalaried individuals have come under income tax department's scanner for making fake deductions claims in the income tax returns filed last...
- Do you claim rent and home loan exemptions? You could be under IT scanner. Read howThe Income Tax Department has employed AI to investigate taxpayers' returns, with fraudulent claims related to house rent and housing loan ...
- I-T dept after raids Mumbai-based gutka group, detects Rs 1,500-cr undisclosed transactionsThe Income Tax Department has detected unaccounted transactions of about Rs 1,500 crore and assets in a tax-haven country after raiding a M...
- Form 16: New format for salary TDS certificate makes it difficult to fudge income, tax breaksThe new format will allow I-T department to view a detailed break-up of the income and tax breaks.
- How a Bengaluru case turned the Income-Tax Department's gaze on India's salaried classSalaried employees so far had bothered little about income tax department closing in on the evaders. But not any longer. The scenario has c...
- Income tax department warns salaried taxpayers against tax evasion by under-reporting incomeThe income tax department has warned salaried taxpayers against under-reporting income or inflating deductions/exemptions while filing inco...
- Taxpayers can’t be fined for incorrect claim if all relevant information is providedThe I-T dept cannot levy penalty on a taxpayer, if he makes an incorrect claim but furnishes all relevant particulars of income , according...
- Expert advice is not an excuse to avoid penalty for claiming false deductions: I-T tribunalAn income-tax tribunal has held that a company cannot avoid paying penalty for claiming false deduction on grounds that its claim was suppo...
- Madoff victims can claim theft lossInvestors allegedly defrauded by Bernard Madoff and R Allen Stanford will be allowed to claim theft losses as deductions on their tax retur...
Load More
