IT dept uncovers ₹500-cr tax refund fraud in Trichy, southern dist
In a statement on Monday, the department said raids were conducted across 19 districts, including Trichy, Pudukkottai, Salem, Madurai, Sivagangai, Theni, Virudhunagar, and Tirunelveli, exposing the large-scale scam.
Preliminary findings revealed that several tax professionals and intermediaries across Tamil Nadu facilitated thousands of taxpayers in filing fraudulent refund claims. These claims were made by submitting fabricated details under various deduction provisions such as Section 80GGC (donations to political parties), Section 80D (medical insurance premiums), Section 80C (tuition fees), and Section 10(13A) (house rent allowance), among others.
By falsely inflating deductions through these methods, taxpayers were enabled to claim illegitimate refunds, causing an estimated revenue loss of ₹500 crore to the government, the department said.
Investigations also revealed that these agents had created dedicated email IDs specifically to file fraudulent returns on behalf of their clients. Thousands of returns were filed using these accounts, leading to the wrongful disbursal of crores of rupees in refunds.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Cách giao dịch ETH/USD mà không cần nắm giữ Ether
IC Markets
Tìm hiểu thêm
Undo
The operations were led by Michael Jerald, IRS, additional director of income tax (investigation), Madurai, supported by officers Sweedha, IRS (Trichy), Raveendran, IRS (Madurai), Venu Kumar (Tirunelveli), and Ramesh, ITO (Madurai).
In light of the findings, the income tax department has urged all taxpayers who may have filed incorrect or fraudulent returns during the current or previous financial years to voluntarily come forward and submit revised or updated returns. This, the department said, would help restore trust and allow taxpayers to avoid penalties, prosecution, and other legal consequences.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
22 minutes ago
- Time of India
Natural disasters caused $135 bn in economic losses in first half of 2025: Swiss Re
Natural disasters caused $135 billion in economic losses globally in the first half of 2025, fuelled by the Los Angeles wildfires, reinsurer Swiss Re said Wednesday. Swiss Re, which serves as an insurer of insurance companies, said first half losses were up from the $123 billion in the first half of 2024. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The Zurich-based reinsurance giant estimated that of this year's first half losses, $80 billion had been insured -- almost double the 10-year average, in 2025 prices. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Neighbor Chops Down Man's Tree, Freezes When He Sees What's Inside Undo The Los Angeles blazes in January constitute the largest-ever insured wildfire loss event by far, reaching an estimated $40 billion, said Swiss Re. It said the "exceptional loss severity" of the fires was down to prolonged winds, a lack of rainfall and "some of the densest concentration of high-value single-family residential property in the US". Live Events Swiss Re said losses from wildfires had risen sharply over the past decade due to rising temperatures, more frequent droughts and changing rainfall patterns -- plus greater suburban sprawl and high-value asset concentration. "Most fire losses originate in the US and particularly in California, where expansion in hazardous regions has been high," it said. Before 2015, wildfire-related insured losses made up around one percent of all natural catastrophe claims, but now account for seven percent. - Hurricane season approaching - Insured losses from severe thunderstorms amounted to $31 billion in the first half of 2025. The second half of the year is usually more costly for insurers due to damage during the North Atlantic hurricane season. If current loss trends continue, global insured losses from natural catastrophes in 2025 could exceed the Swiss Re Institute's projections of $150 billion. "The strongest lever to increase the resilience and safety of communities is to double down on mitigation and adaptation. It's here that everyone can help reduce losses before they occur," said Swiss Re's group chief economist Jerome Haegeli. "While mitigation and adaptation measures come at a price, our research shows that, for example, flood protection measures such as dykes, dams and flood gates are up to 10 times more cost-effective than rebuilding." The March earthquake in Myanmar figured among the major natural disasters in the first six months of the year, with the tremors felt in neighbouring Thailand, India, and China. In Thailand alone, insured losses reached $1.5 billion. Overall, while natural disasters caused $135 billion in economic losses in the first half of 2025, man-made disasters -- which include industrial accidents -- caused another $8 billion in losses, of which $7 billion were insured losses.
Time of India
22 minutes ago
- Time of India
NSA Ajit Doval on Moscow mission amid Trump's antics
New Delhi: NSA Ajit Doval's Moscow trip beginning Wednesday will focus on expanding defence industry ties, including purchase of additional S-400 missile defence systems and dialogue on Su-57 fighter jets . Besides the possible purchase of additional S-400 missile systems , the talks could include setting up S-400 MRO facilities in India and exploring options for acquiring Russia's Su-57 fighter jets, ET has learnt. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The S-400 systems played a major role in Operation Sindoor in thwarting Pakistan military's aggression. Similarly, BrahMos missiles jointly developed by India and Russia rattled the Pakistani military, according to informed sources. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She Mixed Pink Salt With This - Now She Can't Stop Losing Weight Your Health Ahead of Doval's visit, Indian ambassador to Russia Vinay Kumar met Russia's deputy defence minister Colonel-General Alexander Fomin. Doval could also meet President Vladimir Putin, incidentally at the time when the US President Donald Trump's special envoy Steven Witkoff is also in Moscow. This is Witkoff's fifth visit to Russia since the beginning of the year. "The current escalation of the geopolitical situation will also be discussed. Apart from that the topics will include such pressing matters as supplies of Russian oil [to India]," a Russian source said. The visit acquires significance amid Trum's threat of imposing tariffs against India for purchasing Russian oil and fuelling war Ukraine war. Live Events
Time of India
30 minutes ago
- Time of India
6-year-old PIO girl and Indian chef latest to be attacked in Ireland
TOI correspondent from London : A six-year-old Indian-origin girl and an Indian sous chef are the latest victims in the ongoing spate of racist attacks targeting Indian nationals and Indian-origin Irish people in Ireland. The girl, whose family hail from Kottayam, Kerala, was playing outside her house in Waterford City, southeast Ireland, with friends at 7.30pm on Monday evening when a gang of boys and one girl called her a 'dirty Indian' and told her to 'go back to India'. She was born in Ireland. Five of the gang also punched her in the face, hit her private parts with a bicycle, punched her neck and twisted her hair. Her mother moved to Ireland eight years ago from Kottayam to work as a nurse with her husband and recently became an Irish citizen. The mother said the gang was made up of boys aged 12 to 14 and a girl aged eight. She said her daughter came home in floods of tears and is now too scared to play outside. She told the Irish Mirror: 'I never expected that such an incident would happen. I thought she would be safe here. Even in front of our own house she can't play safely. I am a nurse, I am doing my best to take care of people. I do my work and I am 100% professional. I changed my citizenship, but still we are called dirty people and even my kids are not safe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15+ Food That Clean Arteries (Most People Ignore) Undo We came here to fill a labour gap. We are professionals — we have all the certificates…' The mother studied BSc Nursing at University of Calicut and went to Mount Carmel Higher Secondary School in Kottayam. 'Gardaí (Irish national police) responded to a report of an alleged assault in the Kilbarry area of Waterford city on the evening of Monday 4 August. Investigations are ongoing,' a Garda spokesperson told TOI. On Wednesday morning Laxman Das from Kolkata, who works as a sous chef at the Anantara The Marker Dublin hotel, was assaulted near the Hilton Hotel by three people while on his way to work. He was taken to St Vincent's University Hospital. His phone, cash and electric bike were stolen. These come following a spate of attacks against Indians in Ireland in recent weeks — on July 19, July 24, July 27, and on Aug 1 when a cab driver was assaulted. The Gardaí said they are still investigating these attacks and no one has been arrested.
