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Income Tax FY 2025-26: Income tax saving is all about planning, paperwork, and correct reporting. Many taxpayers lose money not because of high tax, but because of mistakes while filing returns. Some of these mistakes can attract penalties as high as 200 per cent of the tax due. Follow Live Updates A careful approach can help you…
Last Updated:December 18, 2025, 2:23 pm IST Tax Dept finds fake deduction claims by refund agents, targeting RUPPs and charities. Penalties: 200% fines, prosecution. ITR-U allows 5-year correction. What happens when you file wrong tax refund claims. (Representative image) Income Tax Refund 2025: In a widespread investigation, the income tax department has uncovered large-scale misuse…