ITR Filing 2024: Income Tax Department warns, taxpayers should not make fake claims to get refund..

The Income Tax Department is constantly sending reminders to taxpayers to file returns. More than 5 crore returns have been filed so far. Meanwhile, the department has asked the return filers not to make fake claims for expenses and not to understate their income.

The department said that making exaggerated and fake claims is a punishable offense and causes delays in issuing refunds. The last date for filing ITR for assessment year 2024-25 for all taxpayers is July 31, after which the accounts will not be audited.

More than 5 crore ITRs filed so far.

According to the Income Tax Department and its administrative body Central Board of Direct Taxes i.e. CBDT, more than 5 crore ITRs have been filed till July 26.

Filing ITR correctly speeds up the refund process.
The Income Tax Department had recently said that taxpayers should file their returns correctly to get timely refunds. The department said, "The refund claim is subject to verification, which may cause delays. Filing ITR correctly speeds up the refund process. In case of any discrepancy in the claim made, a request for a revised return will be made."

Avoid making fake claims.
The Income Tax Department has urged taxpayers filing ITR not to claim the wrong TDS amount, understate their income, or exaggerate deductions.