IT Department discovers fake tax refund claims worth ₹700 cr
The Income Tax Department has discovered fake tax refund claims worth ₹700 crore, mainly under the old tax regime. Most involved fake medical bills and donation receipts. Due to ongoing investigations, refund- especially above ₹10 lakh are delayed. Over 30,000 taxpayers corrected their returns or paid extra tax. Notices are being sent, and pending refunds will be processed soon.