As the deadline for submitting income tax returns is nearing, there has been an increase in related fraud attempts. Fraudsters are sending messages to those who have filed their returns, claiming they have refunds due. These messages, received via phone and email, ask recipients to reconfirm their account numbers and other details. Banks have issued warnings against such attempts.
The messages, pretending to be from the Income Tax (I-T) Department, direct individuals to click on a link that appears to lead to a bank-like website. Subsequently, individuals are asked for personal information and sometimes to install certain files. The aim is to steal the bank account details of the account holder.
Although such messages have been received, there have been no reported cases of monetary loss, according to cyber police. It is advised that if a message claiming to be from the I-T Department is received, individuals should visit the department’s official website to check their refund status.
The ITR filing season for the assessment year 2024-25 will end on 31 July for all categories of taxpayers whose accounts are not subject to audit.
Making exaggerated, bogus claims to get refunds is a punishable offence: I-T Department
The I-T Department has asked income tax return filers not to make bogus claims for expenses, under-report their earnings, or exaggerate deductions, as this is a punishable offence and causes a delay in the issuance of refunds.
In a recent public communication, the Income Tax Department asked taxpayers to file their returns correctly to get timely refunds. “Refund claims are subject to verification checks, which may cause delays. Accurate filing of ITR leads to quicker processing of refunds. Any discrepancies in the claims made will prompt a request for a revised return (to be filed by the taxpayer),” it said.
It cautioned ITR filing taxpayers to not claim “incorrect” Tax Deducted at Source (TDS) amounts, not “under-report” their income or “exaggerate” deductions or submit claims for “bogus” expenses.
The department informed the taxpayers that their claims should be “correct and accurate.”
“Filing a false or bogus claim is a punishable offence,” the public communication said.
Taxpayers can claim a variety of deductions and exemptions to lower their tax liability under the old ITR filing regime, while those opting for the new regime will get a lower tax rate but cannot avail of these benefits.
Source from: https://english.mathrubhumi.com/news/money/income-tax-return-filing-and-related-frauds-1.9768746