TDS refund fraud by filing revised TDS returns – CBI registers case against company for changing PANs

TDS refund fraud by filing revised TDS returns – CBI registers case against company for changing PAN of deductees without their knowledge 

CBI registers case against a proprietor of a Private Company and unknown others on the allegations of TDS refund fraud of Rs. 3.42 crores approx

The Central Bureau of Investigation has registered a case against a Proprietor of a Tamilnadu based private company (an approved Income Tax E-Return Intermediary) and others for TDS refund fraud.

As per press release of the CBI, the FIR was registered on a complaint from Income Tax Department. It was alleged that the accused had entered into conspiracy with unknown others with a dishonest intention to cheat the Income Tax Department.

As per the complaint, during the Financial Year 2014-15, Financial Year 2015-16 and Financial Year 2017-18, the accused filed e-TDS correction returns on behalf of various TAN holders without their knowledge, by amending the PAN of contractors to against whom TDS was deducted & thus claimed fraudulent tax refunds in the name of various other individuals and got refund amounting to Rs. 3,42,77,901/-(approx) defrauding the Income Tax Department.

Source: CBI

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