Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

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 Infosys, processes I-T returns and refund claims for the entire country.

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 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting