News

The Income Tax Department is conducting raids on more than 200 locations, in connection with false deductions under various heads, including political donations, tuition fees, and medical expenses, sources told ANI.

This stern action from the Income Tax Department came after they found several bogus bills claimed by several intermediaries under section 80GGC. This section of the Income Tax Act offers taxpayers a deduction for donations made to political parties or any electoral trusts.

According to the sources, the Income Tax Department are conducting searches in connection with the deduction of bogus medical expenses and tuition fees.

Sources said that there were complaints where several intermediaries were regularly claiming deduction on bogus bills. These bogus bills were provided to the intermediaries on commission, ranging from five to ten per cent.

These tax evaders are mainly from capital cities, where people on a regular basis are fraudulently claiming deductions on tuition fees and medical expenses and through political donations, sources told ANI. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.