Making exaggerated, bogus claims to get refunds punishable offence: I-T Department

The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds.

 

The ITR filing season for assessment year 2024-25 will end on July 31 for all categories of taxpayers whose accounts are not supposed to be audited.

 

According to the Income Tax Department and its administrative body Central Board of Direct Taxes (CBDT), over five crore ITRs have been filed, as of July 26.