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Panel Recommends Refund Relief for Late ITR Filers

By BPN News Desk July 21, 2025
Business Finance
A parliamentary panel reviewing the draft Income Tax Bill, 2025 has recommended that small taxpayers should be allowed to claim income tax refunds even if they fail to file their returns by the deadline. The suggestion comes as a relief for individuals earning below the taxable limit who often
Business Finance

I‑T Dept Raids 200+ Premises Over Fake Deductions

By BPN News Desk July 14, 2025
The Income Tax Department has launched a large-scale crackdown on bogus claims made in income tax returns by individuals across India. On July 14, over 200 premises were searched as part of an operation targeting fraudulent deductions claimed under sections like 80G (donations), 80E (education loans), medical reimbursements, and other exemptions. Bogus Refund Rackets

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