Urgent Alert: Protect Yourself from Income Tax Refund Scams The Income Tax Department has issued a strong warning about a new wave of phishing scams targeting taxpayers. Fraudsters are sending fake emails that promise an income tax refund to trick you into giving up your personal and financial information. How the Scam Works Scammers send … Read more
Income Tax Department cracks down on bogus claims of deductions & exemptions Investigations uncover organised rackets operated by certain ITR preparers and intermediaries filing returns, claiming fictitious deductions and exemptions Data analysis reveals misuse of deductions under sections 10(13A), 80GGC, 80E, 80D, 80EE, 80EEB, 80G, 80GGA, and 80DDB The Income Tax Department initiated a large-scale … Read more
The Income Tax Department in Shimla recently held an advance tax awareness program to help taxpayers understand their obligations better. The event, overseen by Shalini Bhargava, Principal Commissioner, Income Tax-1, Chandigarh, and Raja Ghosh, Additional Commissioner, Income Tax, Range Shimla, aimed to demystify advance tax under the Income Tax Act, 1961. Key Takeaways on Advance … Read more
The Income Tax Department is cracking down on big spenders who might be dodging their taxes. They’re using advanced data analysis and working closely with financial institutions to keep a close eye on high-value transactions to ensure everyone pays their fair share. What’s Being Monitored? The I-T Department is partnering with banks, post offices, co-operatives, … Read more