Couple donates Rs 50, evades Rs 5.3 crore income tax

A Delhi-NCR couple allegedly defrauded the Income Tax Department of an estimated Rs 5.3 crore over a five-year period. The pair employed several deceptive tactics, including using a genuine Rs 50 political donation as the basis for an exaggerated tax deduction. The wife, who filed her income tax return, claimed over Rs 40 lakh in political donation deductions, despite only donating Rs 50.

She also submitted a fabricated education loan certificate for nearly Rs 3 crore in interest payments, despite neither of them having attended Yale University. The couple faked bank statements to support their claims, manipulated housing loan claims on a property that had already been rented out, and concealed undisclosed rental income of between Rs 10 lakh and Rs 16 lakh.

Both spouses claimed deductions on the same property, admitting it was jointly owned and had been rented out. The investigation also revealed discrepancies in loan details and rental income. The couple purchased several properties using the funds involved in the fraud. The Income Tax Department has calculated the alleged tax evasion at Rs 5.3 crore over five years, and the couple now faces penalties and legal action.