New Delhi: Income tax department has launched extensive verification drive to reveal fraudulent demands on tax advantages filed by evaluators, often with the help of professional intermediaries, in what the authorities have described as an organized missile for abuse of tax incentives.
These missiles are operated by some people who prepare a tax return on income (ITR) and intermediaries who file them, said the official statement of the Central Council of Direct Taxes (CBDT). Taxpayers are often attracted to these fraudulent programs with promises of inflated compensation in return for commission.
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The involvement includes employees of multinational companies, public sector units, government bodies, academic institutions and entrepreneurs, the IT department said. The investigation takes place in 150 premises.
This unit is governed by a detailed analysis of the abuse of tax benefits under the Income Tax Act, often in agreement with professional intermediaries, CBDT said.
Data analysis revealed the abuse of equipment that, by law, allowed to deduct certain expenses in calculating taxable income. These permitted deductions include rental allowances, gifts to political parties, interest on education, health insurance premiums, interest on the first housing loan and medical expenses in serious illnesses.
“The investigation has revealed organized missiles operated by some preparations and intermediaries of ITR who file a confession asking for fictitious deductions and liberation.
In order to identify suspicious formulas, the income tax department used financial data received from third -party sources, intelligence information at the level of basic level and advanced instruments for artificial intelligence.
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These findings are further justified by the recent search and seizure operations performed in the Mahari, Tamil Nadu, Delhi, Gujarat, Pandjab and Madhya Pradesh, where evidence of fraudulent claims was used by different groups, the statement said.
The Tax Office stated that in these cases the exemption was required without a valid justification.
Communication failure
Despite the fully electronic tax management system, ineffective communication remains an important obstacle to the help of taxpayers. It has been observed that such ITR preparations often create temporary identifications of e -mail (IDS) only for submitting bulk returns that are later abandoned, leading to official notifications not read.
In accordance with its main principle of “First Trust taxpayers”, the IT department emphasized voluntary compliance, the statement said.
In the past year, the Ministry made extensive efforts, including SMS AE -mail advice, and forced suspicious taxpayers to revise their return and pay the right tax, he said.
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Physical field programs were also performed. As a result, approximately 40,000 taxpayers have updated their revenues for the last four months and voluntarily withdrew false claims in the amount that lead £1 045 crore. However, many of them remain unsatisfactory, perhaps under the influence of master laws behind these missiles, the statement said.
“The IT department is now ready to take strict measures against continuing fraudulent demands, including sanctions and prosecution wherever it is usable. It is expected that the ongoing verification exercises in 150 premises will bring fundamental evidence, including digital records that will help to dismantle networks for these schemes.
Again, taxpayers are recommended to provide the correct data on their coordinates of income and communication and are not influenced by the Council of Unauthorized Agents or Intermediaries promising disproportionate compensation, CBDT said.
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