The Income Tax Department (Telangana and Andhra Pradesh) as part of its monitoring exercise to check correctness of returns filed by taxpayers has found that a large number of assessees have filed exemptions and deductions incorrectly and claimed refunds based on such declarations.
“Many of them work in government department, PSUs and prestigious companies. It is also noticed that a large number of them work with companies outside the State, but have their PAN based in A.P. and Telangana. They have claimed refunds of as high as 75%-90% of TDS deducted by the employer,” an official release from the Income Tax Department stated on Friday.
Addressing presspersons here, Principal Chief Commissioner of Income Tax (Andhra Pradesh & Telangana) Mitali Madhusmita said field enquiries showed “a trend”, of gullible employees getting lured by intermediaries or peers for claiming wrongful refunds.
