I-T busts refund fraud, nexus between IBM, Voda, Infy staff & top CA
25 Jan 2018 10:26 PM IST
New Delhi: The Income Tax Department on Thursday claimed to have busted a racket of extracting fraudulent tax refunds by employees of bellwether companies like IBM, Vodafone and Infosys in alleged connivance with a Chartered Accountant (CA) in Bengaluru, the IT capital of the country.
The investigation wing of the department conducted searches on the premises of an unidentified CA on Wednesday and claimed to have "seized" bogus claim documents of his various clients along with WhatsApp chat messages.
The CA, a department statement said, was "found to be instrumental in filing false income tax returns and making fraudulent refund claims" by citing inflated or false claims of loss from house property.
The department claimed that the CA filed "nearly 1,000 returns with loss from house property, aggregating to loss claim of Rs 18 crore" till now.
Employees of over 50 prominent and medium-sized companies in Bengaluru are under the scanner of the department who were the clients of this CA, whom the department did not identify citing ongoing investigation.
"It is noted that employees from some of the reputed companies such as IBM, Vodafone, Saplabs, Biocon, Infosys, ICICI Bank, CISCO, Thomson Reuters India Limited among others have also resorted to such fraudulent claim of refunds by filing revised returns of their individual income," the department said.
It added that many of them have been questioned by the taxman in their respective offices since Wednesday.
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