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    Income Tax department warns salaried class against under-reporting income

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    The income tax department has released a page-long advisory warning salaried taxpayers against under-reporting income or inflating deductions/exemptions while filing income tax returns. In an advisory uploaded on the e-filing website today the tax department cautioned salaried taxpayers that such under-reporting / inflating deductions/exemptions is punishable under the Income Tax Act. It should be noted that that advisory was floated days after employees of some top organisations fraudulently inflated deductions and exemption, thus claiming higher returns.

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