IT dept busts refund racket

The department has named Srinivasulu as the mastermind behind the racket.The claim for bogus refund was made by obtaining multiple permanent account numbers (PAN) in different names and then by filing income tax returns by enclosing forged tax deduction at source (TDS) certificates. A number of bank accounts were opened in different banks to facilitate encashment of refund.

Suspicion arose when some alert IT officers made enquires about the antecedents of Srinivasulu and bank accounts being operated by him.  Recently, Srinivasulu was nabbed and handed over to the police after he visited the office to pursue refund of payments.