The greed of getting good IT returns can now prove to be costly. Along with the employed, people with big refunds have also come under the purview of this investigation. The Income Tax Department has now started investigation regarding this and is also monitoring it. Earlier also such cases have come to light when refunds were obtained by using fake receipts.
Getting your income tax return filed by someone who helps you get a good refund can prove to be costly. Not only is this year’s refund likely to be stuck, but wrong refunds of past years can also be recovered. The income tax department has started a detailed investigation and monitoring. Those with big refunds and those employed people who are getting their returns filed collectively by someone are also under the scanner.
In the past years, cases of employees of many government departments in Jammu-
Kashmir and Andhra Pradesh getting refunds by showing fake donation receipts, expenses etc. in their returns were caught. After this, strictness started in the matter of refunds across the country. Such wrong refunds were caught in Ujjain too.
Now the Central Board of Direct Taxes (CBDT) has given instructions to the department in this regard. Such returns and refunds are being identified and investigated with the help of artificial intelligence. Since the implementation of the online return system, the department has been issuing refunds quickly. The Income Tax Department usually issues refunds within a few weeks. But many big refunds are stuck even after months.
These are under surveillance
According to CA Kirti Joshi, the SOP issued by CBDT for the department officials has instructions that such taxpayers whose returns have been scrutinized in the last eight years and tax demands have been issued on them.
These should be specially investigated. Salaried persons who claim a big refund but their refund is not matching with the Form-16 issued by their employer. Those who have revised the refund in their returns. Those who claim all kinds of exemptions from 80 (G), disability, mediclaim in their returns are also in the ambit.
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