Income tax refund wrong claims: Up to 200% penalty, criminal action for wrong tax refund claim; check exactly what will happen

The Income Tax Department has exposed a nationwide network of agents facilitating fraudulent tax deductions and exemptions, leading to illegitimate refunds. Sophisticated data analytics and third-party verification are used to detect these fake claims, with severe penalties including tax demands, interest, and potential prosecution for offenders.

from Tax-Wealth-Economic Times https://ift.tt/YKgpjvO