GroovyPenguin
GroovyPenguin

CAs and Tax Evasion

I see many of my colleagues consulting CAs for ITR filing and getting huge returns. What I gathered from their filings were bogus Health Insurance claims, fake HRA claims etc being utilised for showcasing huge deductions. These filings were done along with ITR 2 to somehow bring down the income.

Can anyone shed light on this practice? Are these legitimate CAs ? Is this not illegal? Don't they get caught ?

Note: This post is not to undermine CAs, but to understand how few CAs are doing this ? And is there really a way to decrease your taxable income, without having legitimate investments in the first place.

4mo ago
4.2Kviews
Find out if you are being paid fairly.Download Grapevine
Discover more
Curated from across