Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ACCOUNTING STANDARDS :: form 3cd :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: empanelment :: TDS :: VAT Audit :: cpt :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4%
« Service Tax »
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders
 Where to invest for saving more on taxes
 A simpler GST can become a registry of all invoices, says iSPIRT’s Sharad Sharma
  Income Tax department may defend CPC in returns fraud case
 One GST rate not possible, next reform after compliance improves,
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
  GST Network simplifies returns filing process
 Why is the successful roll-out of the e-way bill necessary?
 How service tax became revenue lifeline for the Govt
 Three simple tricks to save income tax without investing fresh funds
 Goods and Services Tax (Compensation to States) Amendment Act, 2017.
 Services sector need to brought under Section 72A of the Income-Tax Act
 Simplifying GST: Creating a Grand Simple Tax
 The way ahead for goods and services tax

Income Tax department may defend CPC in returns fraud case
March, 06th 2018

The Income Tax (I-T) department is expected to defend its role in the case filed by the Central Bureau of Investigation (CBI) in 1,010 instances of fraudulent claims of tax refunds in Bengaluru, said a top official in the I-T department.

The I-T returns and refund claims are processed according to a software programme with little scope for human intervention, the official told ET. The Central Processing Centre (CPC) in Bengaluru, managed by InfosysBSE 0.62 %, processes I-T return ..

The I-T department, recently detected the refund fraud involving 250 private sector staff. They allegedly claimed refunds totalling Rs 5 crore. Nagesh Sastri helped them make these fraudulent claims for assessment years 2014-15, 2015-16 and 2016-17.

"We are moving as per the law against all these employees, which will involve both heavy penalties and prosecution. We will also persecute the persons, Sastri in this case, for aiding the fraud," said the official.

The first information report (FIR), registered by the CBI in Bengaluru on February 27, however, suspects the role of sections of I-T officials posted at CPC and Infosys executives at CPC in the refund fraud. The I-T department officials say it was their surveillance which unearthed the fraud and they would be happy if the CBI goes after the private individuals involved in fake claims.

It turns out the CBI registered the case suo moto. "Officers are not involved in routine refunds, which are system generated. Everyday, the CPC processes several lakhs refund claims in line with the stated objective of the government to issue refunds within 45 days of the claim," another I-T official said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Portal Design Website Design Portal Designing Website Designing Web Design Professional Portal Design Professional Website Design Professional Web Design Portal Design India Website Design India Portal Designing India Website Designing India Web Design India Professional Portal Design India Professional Website Design India Chicago Professional Web Design New York Professional Web Design California Website Design Florida Website Design New Jersey Website Design Britain UK Website Design London Manchester Website Design

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