Odisha EOW arrests CA Inter from Faridabad; Mastermind of Pan-India IT Refund Scam
The Odisha Police’s Economic Offences Wing (EOW) has arrested Haryana based CA Inter Student Neeraj Singla for his alleged involvement in a Rs 2.70 crore income tax refund scam.
Economic Offences Wing (EOW), Bhubaneswar, has purportedly exposed a significant Income Tax refund scam that was being run out of the Delhi-NCR region. EOW brought the accused to Bhubaneswar on remand after presenting him before a Faridabad magistrate’s court.
According to the EOW official, Singla, a chartered accountant intermediate student with 28 years of experience, is one of the key organisers and beneficiaries of this widespread TDS refund fraud in India.
The official claimed that he and his colleagues conduct this scheme by submitting forged or false paperwork from other businesses, costing the government exchequer millions of rupees.
The TDS challan/return filed by IAMO Solution Pvt Ltd during the financial year 2020–21 for Rs 2.70 crore was revealed to have been faked by Singla, in criminal conspiracy with others, and the money was credited in the PANs of 32 taxpayers, the EOW discovered during its probe.
The accused’s personal account as well as the accounts of his businesses, All India Transport Services, CKS Acoustics, and GDS Associates, received a sizable portion of the return. Additionally, according to the official, some funds have been transferred to the accounts of a few other businesses that are ultimately run by the accused.