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Central Board of Direct Taxes issued Press Release on 23.12.2025 on subject “Initiative to encourage taxpayers to voluntarily review deduction/exemption claims identified as potentially ineligible through risk analytics”
A senior citizen covered under CGHS underwent hip replacement surgery, and personally paid as part of the hospital bill was not fully reimbursed. Can this amount be claimed as a deduction while filing the ITR?
The Income Tax Department imposed a penalty equivalent to 17% of Mr Shinde’s salary after it was proved that he had claimed false income tax deductions to under-report his income by about 50% to lower his net income tax liability. The penalty imposed by the income tax department amounted to Rs 1.4 lakh. Shinde’s actual salary was Rs 8 lakh a year, which he reported as only Rs 4 lakh.
In ongoing searches carried out by the Income tax department at more than 200 locations across the country for false deductions by political parties, the I-T teams in Chhatrapati Sambhajinagar unearthed a massive scam involving crores of rupees routed through an unrecognised political party under the guise of donations eligible for tax deductions under section 80GGC of the Income tax Act, 1961.
Investigations uncover organised rackets operated by certain ITR preparers and intermediaries filing returns, claiming fictitious deductions and exemptions
Income tax rates applicable to old & new tax regime, deduction available under various section is given in the post
Timely and accurate tax payment is crucial for ensuring the government has the funds to support public welfare initiatives. To enforce compliance, the Income Tax Act prescribes penalties for failure to pay taxes or for providing inaccurate information in income tax returns.
Next time you file your income tax return and your chartered accountant (CA) suggests you do some income fudging here and there, beware. Until December 31, 2024, the Income Tax Department has identified 90,000 salaried taxpayers who wrongly claimed deductions amounting to approximately ₹1,070 crore in their income tax returns (ITRs). When confronted by the tax department, these individuals were required to pay back the taxes due to the government.
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