NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / India News / Inaccurate I-T return filings by salaried employees under government scanner
    Inaccurate I-T return filings by salaried employees under government scanner
    India

    Inaccurate I-T return filings by salaried employees under government scanner

    Written by NewsBytes Desk
    April 19, 2018 | 10:30 am 2 min read
    Inaccurate I-T return filings by salaried employees under government scanner
    Credits

    Indian government is cracking down on salaried employees who use illegal means such as under-reporting of income or inflating deductions while filing income tax returns (ITRs) to avail maximum tax benefits. The income tax department warned salaried taxpayers on Wednesday, threatening violators with prosecution and a strict action by their employers, reported PTI. Read on for more details.

    A cautionary advisory

    The Central Processing Centre of the I-T department, located in Bengaluru, is responsible for receiving/processing ITRs. It has issued a one-page cautionary advisory to all professional taxpayers stating they shouldn't "fall prey" to the advices of unscrupulous tax advisors or planners and refrain from preparing wrong claims. "Such offenses are punishable under various penal and prosecution provisions of the Income Tax Act," it said.

    All fraudulent claims in ITRs will be penalized

    With the beginning of the tax-filing season for salaried workers, the Central Board of Direct Taxes (CBDT) - which formulates the policy for the I-T department - has recently notified the new ITRs. According to the one-page advisory, all fraudulent claims in ITRs, if found out, "may be punishable under provisions of the I-T Act and this may also delay issuance of refunds."

    ITR-1 form for 2018-19 now available for e-filing

    Meanwhile, the latest ITR-1 form, used by taxpayers for incomes upto Rs. 50 lakh, has been uploaded on the I-T department's official e-filing portal. The ITR form, notified by the CBDT on April 5, is now available on its website. The new ITR assessment forms require salaried employees to provide a detailed break-up of their salary, and businessmen information about their GST number, annual turnover.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Bengaluru
    Central Board of Direct Taxes (CBDT)
    Income Tax Department of India

    Bengaluru

    Return on investment via residential rent highest in Bengaluru, Kolkata Mumbai
    Bengaluru: Missing banker's decomposed body bearing multiple stab wounds found Tamil Nadu
    Bengaluru: Despite removing contractor system, sanitation workers unpaid since months Karnataka
    10,000 Bengalureans registered as voters this year, courtesy this man Narayana Murthy

    Central Board of Direct Taxes (CBDT)

    New PAN forms to have independent gender category for transgenders India
    IT publicly names defaulters owing over Rs. 400 crore taxes Delhi
    CBDT asks officers to step up tax collection India
    SC: Election candidates, spouses, dependents must disclose sources of income India

    Income Tax Department of India

    I-T working on more, better rewards for tax evasion informers India
    Deepak Kochhar's 'funds from Mauritius' under income tax department's scrutiny Central Bureau Of Investigation (CBI)
    HC partially unfreezes Cognizant's bank-accounts, orders payment of Rs. 420cr Cognizant
    Things to do before, during and after filing tax returns Bengaluru
    Next News Article

    Love India News?

    Subscribe to stay updated.

    India Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023