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Can i show fake 80c deduction???

shobhit (aa) (339 Points)

29 September 2016

HELLO FRIENDS....

ONE OF MY CLIENT HAVING SALARY INCOME OF WHICH I AM FILING ITR-1 IS IN TAX BRACKET....

I WANT TO AVOIDE TAX....BUT HE DONT HAVE SUFFIENT SAVINGS TO REDUCE TAX...

TDS DEDUCTED IS 19000... I WANT FULL REFUND OF THAT AMOUNT..

I KNOW IT IS NOT ALLOWED BUT I WANT YOUR ADVICE FROM YOUR PAST EXPERIENCE THAT CAN I SHOW FAKE DEDUCTION OF 80C. TO AVOIDE THAT TAX....

I HAVE SEEN PEOPLE WHO ARE DOING THAT AND AVOIDING TAX.

I MISSED OUT A CLIENT WHO WAS IN TAX BRACKET BECAUSE OF HAVING RS.35000 AS INTEREST INCOME FROM SAVING BANK..ANOTHER CA SHOWED THAT INTEREST WITHIN 10000 LIMIT AND CLAIMED REFUND FOR HIM...

SO CAN I ALSO DO THAT IN THAT 80 C DEDUCTION CASE? BECAUSE SOMETIMES I FEEL THAT TAX AUTHORITIES DONT GO THAT DEEP TO CHECK EACH AND EVERY THING OF EVERY RETURN FILLED BY CRORES OF INDIANS..

SO ADVICE ME... THANKS.

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18 Replies

CA Raj Doshi (Practising CA) (8924 Points)
Replied 29 September 2016

Please do not succumb to such unethical practices. Your value will deteriorate in front of the client and CAs have been regarded as partner in nation building. I highly condemn this th

5 Like

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CA Raj Doshi (Practising CA) (8924 Points)
Replied 29 September 2016

I highly condemn this thought of yours. and I don't want such a worst future of India . The future lies in our deeds today

2 Like

CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 29 September 2016

One thing you should always keep in mind that you are representing our dignified profession whether you are a qualified CA or an article. Please feel the responsibility you have towards the profession and the nation. Don't spoil the image. You should suggest the client which is within the four corners of law and avoid malpractices like tax evasion.

2 Like

Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 29 September 2016

AGREE WITH ABOVE

YES , YOU SHOULD NEVER SHOW FAKE EXPENSE , DEDUCTION & EXEMPTION

GOOD LUCK!

1 Like

Nitish Agrawal (CA) (810 Points)
Replied 29 September 2016

Yes by this act the reputation of the profession will be depleted very highly and instead you should try to convince your clients that institue and governments are very strict in all this matters. And so I also suggest you to not do such type of acts.

1 Like

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Kajal Jain (Freelancer-Chartered Accountant) (551 Points)
Replied 29 September 2016

firstly this is ethically incorrect...
secondly suppose once you do this...thn this will become a habit for u and ur clients...
both of u will be at loss...client won't have any investment in hand...and they will pull ur collar if AO catches it

1 Like

CA PALLAVI GUPTA (Professional) (592 Points)
Replied 29 September 2016

This is not acceptable at all. Our signature are our brand value which shows credibility to Govt., and Public. They trust our reports. Thinking of this type of malacious practice is shame for all of us. Please avoid it.

1 Like

divakar Tomar (Accountant) (36 Points)
Replied 29 September 2016

What are the saying all CA...

Give me answer of my 1 question....every company have a CA and 80%company showing fake expenses and saving tax from illegally...... and 70% CAs know all and also guide on this illegal practices

So the only CAs in India are responsible for back money and illegal tax saving practices

3 Like

shobhit (aa) (339 Points)
Replied 29 September 2016

i was expecting the same replies ..... i already mentioned that i know this is incorrect to show fake expenses....i worte that query to know whether every returned filed by crores of indians checked that deeply....

also i have seen live example in my ca training period.... my boss used to show fake interest income if client doesnt brought the bank passbook for filing ITR. as they was aware that he must be having interest less than 10000. anyway wrong is wrong na..but no case come up for scruteny..

also ca is very famous for converting black money into white....

another example ....during bank audits auditors are treated like son in law....so as to give unqualified report...so why dont CA REFUSES those high welcomes and give indepent report....all know they already HAVE AN understanding of SA 200. still they do that. now answer me...

1 Like

CA Saba Naaz (Chartered Accountant) (8487 Points)
Replied 29 September 2016

Give priority to your ethics and values. Why are you trying to follow wrong deeds of other people?
It's not recommended.

1 Like

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PRAVIN VADNERE (AUDITOR) (115 Points)
Replied 29 September 2016

I think that

nothing is old and nothing is new; It's just matter of point of view"

We need to come together for building's financial power of India

basant (Accounting & Taxation) (390 Points)
Replied 30 September 2016

Ye sab batte idhar discuss nahi honi chahiye .. aap sab to jaante ho ki kya karna chahiye..

shobhit (aa) (339 Points)
Replied 30 September 2016

Friends as u all are against that query, i have uploaded the ITR without tax evasion , paid 18550 as tax. Just claiming 1550 refund..

Ajit Hegde (CA - Final) (1367 Points)
Replied 30 September 2016

Mr. Diwakar, you cannot blame CAs like that. May be you have seen someone doing illegal things, yet you have not informed anyone, no action taken ? Mind you, if you are aware of the fact and you keep silent, you are equally responsible for the act. If you have just heard rumours, you have no right to make such allegations. So think before commenting