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    Vikshita Vitthal Gujaran in News

    30 Mar 07:30 AM


    Tax department detects HRA fraud with illegal usage of PANs

    Income tax department uncovered a PAN fraud scheme where individuals misused PANs for house rent allowance claims, leading to the detection of numerous high-value cases. The misuse may entail legal repercussions, including penal interest and tax payments. The case prompted the income tax department to further investigate the matter and it turned out that there was rampant misuse of PANs by unscrupulous individuals to claim tax deduction from their employers.