IT department

Income Tax department’s big warning: Exaggerated, bogus claims for refunds punishable offence

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Income Tax department’s big warning: Exaggerated, bogus claims for refunds punishable offence

The Income Tax Department has asked all citizen filing income tax returns to not make bogus claims for expenses, under-report their income or exaggerate deductions, this is a punishable offence causing delays in the issuance of refunds, reported PTI on Sunday, July 28. The income tax return (ITR) filing session for the assessment year 2024-25 … Read more

CBDT to reopen cases linked to false HRA claims? Income tax body issues clarification, says ‘any apprehensions about…’

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CBDT to reopen cases linked to false HRA claims? Income tax body issues clarification, says ‘any apprehensions about…’

Rejecting media reports suggesting the large-scale reopening of cases related to incorrect house rent allowance (HRA) claims, the Central Board of Direct Taxes (CBDT) on Monday, April 8 clarified that “apprehensions about retrospective taxation on these matters and re-opening of cases are completely baseless.”  Also Read: Income Tax: Rent paid to spouse can be claimed … Read more