The Income Tax Department keeps a close watch on the income coming under the purview of income tax and the details of the taxpayers filing ITR (taxpayers news). In such a situation, if any taxpayer makes even a slight mistake in paying taxes, then he may have to face difficulties. Recently a big case of income tax fraud has come to light. In this case, the Income Tax Department has suffered a loss of crores.

How many crores were cheated -

Some software professionals in Hyderabad cheated the Income Tax Department of Rs 110 crore. Employees of 36 companies caused loss of government money by wrongly claiming tax refund (tax refund claim process). This scam came to light in the investigation of the Income Tax Department (IT department notice).

The department is now taking steps to recover the refund amount from these employees. The accused made a false claim in the name of a donation and received tax benefits without any actual contribution. This matter has posed a big challenge to the Income Tax Department, due to which fraud is being closely monitored.

This is how the fraud was done -

According to the Income Tax Department, some IT experts showed donations of lakhs of rupees to registered but unrecognized political parties. Based on these claims, they tried to get a tax discount from IT under Section 80GCC of Income Tax.

Refund took by showing false amount as a donation -

The Income Tax Department has exposed a major financial fraud, in which professionals of many companies took advantage of tax exemption in the name of political purposes. These people were not actually donating, but still they took advantage of tax refund benefits by showing it as donation.

This is how the embezzlement was caught -

A person gave some specific information about his earnings, in which he said that he generates a salary of Rs 46 lakh, according to which he had donated almost his entire income of Rs 45 lakh for a certain purpose.

Claims made by employees turned out to be false -

Previous investigations revealed fraud in the claims of House Rent Allowance, education loan and home loan interest made by employees. When these claims turned out to be false, the matter was exposed. In 2023, action was taken on fake refund claims made by government employees of Telangana and Andhra Pradesh.

Plan to investigate tax returns -

The Income Tax Department informed that many of the political organizations to which the employees had given money did not contest the elections and did not submit their reports to the Election Commission. Now the department will investigate the tax returns (Income tax return news) for the financial years 2021-22 to 2023-24.

IT Department will give notice to employees -

The Income Tax Department has decided to send alerts through SMS and email to employees of the technology sector who claim tax deduction under section 80GGC special provision. This will allow employees to re-check their tax filing (ITR filing fraud).

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