Tax refund scam: I-T sleuths search consultants offices in Telangana, Andhra
HYDERABAD: Income Tax sleuths carried out searches at the offices of several tax consultants in Hyderabad and Guntur, Vizag, Vijayawada, Tirupati, and Anantapur in connection with the tax refund scam that they have uncovered.
The sleuths found that tax refund scams were perpetrated by tax consultants’ by submitting fake and fabricated documents related to the hospitalization of their clients’ parents. The officials suspected that there was something fishy about Government and Private employees’ tax returns where the consultants filed hospitalisation bills and home loan documents for tax refunds.
The sources in the IT department said that the tax consultants approached employees to file form-16 with fake and fabricated bills related to employees’ parents’ hospitalisation bills and Home loans, education loans, and premium payments for health-insurance schemes. The sources said that consultants also struck a deal with the employees and other mediators to share the refund amount in return for a cut in the refund.
The agency sources stated that as of now they have identified that the scam amount may be between Rs.75 crores and `90 crore. Officials have sent summons to employees and tax consultants to appear before them for investigation. The department is also planning to file a case against the consultants and employees who may have deliberately colluded with them to swindle the Income Tax department.