I-T Dept flags up to 20,000 ITRs for 'swapped provisions': Report

The Income Tax Department has identified 15,000-20,000 cases where individuals allegedly used a "swapped provisions" trick to reduce their tax liability, TOI reported. The practice involves withdrawing one exemption claimed in the original ITR and replacing it with another in a revised return. "The issue is...claiming a tax benefit without satisfying the eligibility conditions," an expert said.