Published On: Sat, Aug 19th, 2017

Are Income Tax consultants charging 25 per cent on TDS refund?

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To file Income Tax returns, taxpayers are not required to submit salary deduction statement and other investment documents.

While this is seen as a huge relief for people filing their returns, the same rule is being misused by fraudsters invariably affecting the government’s revenue.

Sources said that tax consultants mislead taxpayers by promising them a return of the money deducted under Tax Deduction at Source (TDS).

According to the rules of Income Tax, one is eligible for TDS if they have invested under sections 80C, 80CC, 80CCD or 80D in the corresponding financial year.

Incidentally, the tax consultants assure TDS refunds deducting nearly 25 per cent of the total amount as consultancy charges, sources.

Sources said that such kind of scam is commonly seen across various industries.

Source:-indiatoday