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IT Department Takes Measures to Stop Refunds Based on Fake Investments
December 21, 2018
Chairman of the Central Board of Direct Taxes (CBDT) Sushil Chandra said that the Income Tax department has taken new steps to check fraud refunds. He said that the department has set up a 3-member committee that will review assessments that have irrational tax demands.
Chandra said that during its search operations in Bengaluru, Mumbai, and certain areas in Punjab, it was found that some fraudulent entities were encouraging taxpayers to claim income tax refunds on housing loans and fake investments under Section 80C.
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