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Time of India

IT dept uncovers ₹500-cr tax refund fraud in Trichy, southern dist

Trichy: The income tax department has unearthed a ₹500-crore tax refund fraud involving fabricated income tax returns during investigations and search operations across Trichy and several other southern districts. 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.