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   Major I-T fraud came to light in Hyderabad
Major I-T fraud came to light in Hyderabad

Hyderabad News: The Hyderabad police found out a massive fraud in the I-T Returns in the Income Tax department of Hyderabad. They would never have known it until the officials in Delhi observed a bug in the functioning of Software of I-T Returns which was recently introduced in the department.


With the help of this software, certain junior IT officers could easily manage to collect huge amounts of IT Returns funds. The amount of fraud is close to 1.15 crore INR. Police also fear that this scam is just the outer cover. The inner reality might be even worse if other documents are verified. The new software is called AST. Using this software the fraudsters could easily sneak in the accounts and transfer that sum into theirs.


All this was possible due to the PAN cards. Many fake PAN cards were issued by the accused involved in the scam. 6 employees were arrested so far. After interrogation, police found out that it was very easy for the 6 members to access the PAN details of tax payers. Also PAN is the only id proof accepted by many government wings.


But the credentials required to apply for PAN are so liberal that these 6 members could issue many fake PAN cards for themselves. These fake PAN cards were used in this scam to take the money out of I-T collections. Among the arrested were Shaik Mohammed Jahangir and B. Anju Rani and a few more names are yet to come out.


Tags: Income tax refund scam, Mohammad Jahangir, Income Tax fraud hyderabad, latest news in hyderabad city, hyderabad news today

Fri 07 Sep, 2012,11:08:01 PM
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