Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARD :: VAT RATES :: TDS :: VAT Audit :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: articles on VAT and GST in India :: empanelment
 
 
From the Courts »
  Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 CIT vs. Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)
 IndiaBulls Financial Services Ltd vs. DCIT (Delhi High Court)
 Maharao Bhim Singh of Kota vs. CIT (Supreme Court)
 Ravneet Takhar Vs. Commissioner Of Income Tax Ix And Ors.
 Jaiprakash Associates Ltd. Vs. Commissioner Of Income Tax
 Formula One World Championship Limited Vs. Commissioner Of Income Tax, International Taxation-3 And Anr.
 Commissioner Of Income Tax International Taxation-3 Delhi Vs. Formula One World Championship Ltd. And Anr.
 Reliance Communications Ltd vs. DDIT (ITAT Mumbai)
  Sushila Devi vs. CIT (Delhi High Court)

I-T sleuths work hard to secure
January, 27th 2010

The Central Board of Direct Taxes (CBDT) was chasing tax evaders so far. Now they have to deal with hackers too as incidents of fraudulent tax refunds were detected involving at least Rs 4 crore from the Income Tax Department, Mumbai with CBDT planning to put in place a more robust and foolproof system for handling high value refunds.

A refund scam hit the IT Department on January 12 when an IT officer in Mumbai found that refunds had been issued from his jurisdiction without his knowledge or approval of higher authorities. The officer immediately brought the matter to the notice of his superiors.

User Ids and passwords of certain officers had been fraudulently used to generate refunds in some cases.

We have deactivated both user Ids and passwords. We are also checking whether this fraud is limited to Mumbai or it is widespread to other IT offices in the country, CBDT spokesperson Sishir Jha told Express when asked about the fraud.

Interestingly, CBDT had introduced the Refund Bankers Scheme of issuing refunds through electronic clearing services three years ago to curb corruption and slash down tedious paperwork To prevent the recurrence of such frauds, CBDT has decided to cross verify all high value refunds issued during the current financial year.

Both the Mumbai police and Central Bureau of Investigation have been informed.

The IT department has asked State Bank of India, which issues refunds through Electronic Clearance System (ECS), to stop making further refunds into suspicious accounts.

But Jha refused to confirm whether it was phishing or hacking and or whether insiders were involved in it. I-T investigators have identified bank accounts, beneficiaries and some of the scamsters involved, he said without giving any other detail.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Vision

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions