Businessman Loses ₹1 Crore to ‘I-T Return’ Fraudsters

By: Admin
May 22, 2024
Categories: Income Tax|Income Tax News
4 Min Read

A businessman from South Kolkata, who has paid over Rs 1 crore in taxes since 2020, was shocked to receive an IT appreciation note indicating he had paid only Rs 9.9 lakh in IT returns between 2020 and 2023. He discovered that just Rs 9.7 lakh had actually been paid on his behalf, despite being provided with fake documents by his office employees, claiming payments exceeding Rs 1 crore. Upon realizing the discrepancy, he approached the police, and the case was taken up by the anti-cheating section of the detective department.

The police have now arrested a self-proclaimed “accountant-cum-tax consultant,” Asif Salam alias Asif Alam, from his Dargah Road residence around 5:15 am on Saturday. Salam had been entrusted with filing the businessman’s IT returns. According to additional CP (I) Murlidhar Sharma, the accountant conspired with others to deceive the businessman, who paid Rs 1.07 crore for filing returns between April 2020 and July 2023. The businessman discovered that only Rs 9.9 lakh had been paid to the income tax department, with Salam providing forged documents to claim all dues were cleared. This resulted in a wrongful loss of Rs 96,76,677 to the businessman and a corresponding wrongful gain for the accused.