The Income Tax department has filed two FIRs against 400 Employees and one CA in Jammu and Kashmir in bogus refund cases
It has been alleged in the FIRs 405 persons including a Chartered Accountant who runs a firm from Raj Bagh Srinagar have entered into a conspiracy and defrauded the Central Government exchequer for a sum of Rs.16.72 crore between financial years 2017-18 to 2019-20
In the FIRs addressed to the Senior Superintendent of Police, Crime Branch, Srinagar, the Income Tax Department has described the modus operandi of the accused in minute details and has shared their complete details with the crime branch like names, addresses, PAN, bank accounts and the amounts fraudulently claimed as refunds by filing incorrect Income Tax Returns in a clandestine manner.
It has been alleged that all the culprits have taken more than Rs 4 lakhs as refunds by filing incorrect Income Tax Returns for various years. All 405 persons have been booked under sections 420/468/471 and 120B of the IPC & RPC read with section 66-D of the I.T. Act.
In this digital age, and robust IT infra by department, soon claiming fake deduction will be impossible as the system will be strong enough to detect such fake claims
Employees, don’t claim fake detection for small refunds, you may have to pay later with interest and a huge penalty