Income Tax Department Warns: Bogus Claims for Refunds are Punishable Offenses

The Income Tax Department has warned taxpayers against making fraudulent claims as the ITR filing deadline for AY 2024-25 approaches. Over five crore ITRs have been filed, and the department emphasizes accurate filings to avoid delays in refunds. Inflating expenses, under-reporting income, and false claims are punishable offenses. Taxpayers are advised to check e-filing accounts for messages and respond promptly. The recent budget proposal extends refund withholding up to 60 days for cases with existing or likely demands.