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Hindustan Times
2 days ago
- Hindustan Times
How IPS officer Rashmi Karandikar finds herself in the midst of a legal wrangle
Indian Police Service (IPS) officer Rashmi Karandikar, 51, is in the midst of a maelstrom of legal disputes, with the Economic Offences Wing (EOW) of Mumbai police investigating two First Information Reports (FIRs) registered against her husband Purushottam Chavan, 53, in January and February, 2025, for his alleged role in defrauding six people of ₹7.42 crore on the promise of securing for them government plots at cheap rates and giving them the contract to supply T-shirts and hoodies to Nashik Police Academy between 2015 and 2024. In another instance, he had also promised 19 individuals cheap flats through various government schemes between 2019 to 2014 – he had collected funds to the tune of ₹24.78 crore from them. The cases unravelled in May 20, 2024, when the Enforcement Directorate (ED) searched Chavan's residence in Colaba for a money laundering probe related to alleged fraudulent withdrawal of TDS (Tax Deducted at Source) refunds worth ₹263.95 crore from the Income Tax (I-T) department. 'When ED registered an Enforcement Case Information Report (ECIR) and carried out searches at their Colaba residence, the agency had found several documents and agreements, which were forwarded by them to the EOW, which in turn registered the two FIRs based on the documents,' said a police officer investigating the case. In the twin cases of alleged promise of land parcels and homes, police have now summoned Karandikar's driver, house guards and house orderlies to record their statements. The EOW has secured Chavan's custody on remand up to June 24 on Thursday; and though Karandikar is not named in any of the FIRs, police are investigating financial transactions through her bank accounts and have written to the Director General of Police (DGP) Rashmi Shukla, to ascertain if she had declared the transactions as part of her assets. Karandikar and Chavan's paths converged in 2004 at an institute that mentored civil services aspirants for competitive exams. Karandikar was preparing to take the exams after completing a PhD in Sociology; she had a BSc in Statistics from University of Mumbai followed by MA in Sociology and Anthropology earlier, said a police officer, who is in the know of things. She had earlier cleared an examination for a desk officer's post under Maharashtra Public Service Commission (MPSC). The officer however could not furnish details about Chavan's background, except for the fact that like Karandikar, he also grew up in western Maharashtra between Mumbai and Pune. The couple wed a year after they met in 2005. Subsequently, while Karandikar joined the services, her husband dropped the idea of serving the government and joined a financial broker with whom he went on to work for several years. 'He made a handsome living,' said the police officer, adding that the couple has no children. As a state-cadre police officer, she has worked in highway traffic police, as a deputy commissioner of police (DCP) in the Cyber-crime division and as DCP Port Zone. She is presently DCP, Civil Defence. Through her time in the department, Karandikar is known to have solved many notable cases. The Bulli Bai case of 2022 was one, where the accused were arrested for posting photographs of Muslim women, including well-known personalities, activists and professionals, on an app called Bulli Bai where they were declared available for 'auction.' She was also instrumental in solving a Nigerian job fraud and Pradhan Mantri Yojna loan fraud cases during her tenure as DCP, Cyber-crime. She is now in a legal wrangle because of her husband's alleged misdeeds. Insiders in the police department said, while he chose to drop out of the civil services race, Chavan did not think twice of artfully using his wife's position to carry out his businesses. He used his Karandikar's official vehicle – a Maruti Suzuki Ertiga – when he showed aspiring investors plots under the Mumbai Port Authority (MbPA). He would be driven by her official driver, while a uniformed constable accompanied him in the vehicle. He struck a deal for a batch of T-shirts with prospective businessmen in the presence of Karandikar at her official residence in Colaba, thereby winning their confidence, said an investigating officer. Chavan had also claimed that his wife was a member of the visiting faculty at the academy. 'We have arrested Chavan in the second case registered against him and have got his police custody till June 24,' said a police officer aware of the investigation. Sources in the department said that Karandikar, who was also questioned by the EOW, purportedly filed for divorce from her husband after his arrest, citing mental cruelty and financial harassment, and for concealing his business activities. EOW officers told HT that they have found transactions by which Karandikar had received ₹2.64 crore in her bank account from the account of her husband, who had made several foreign trips and who is also being investigated by the ED for money laundering charges. 'We have written to the DGP's office to check if she has declared the banking transactions in her assets disclosure, and are awaiting a response,' said the EOW officer, adding if they find her guilty of doing so, they may refer the case to the Anti-Corruption Bureau. 'The probe is at a nascent stage now,' the officer added.
Indian Express
2 days ago
- Business
- Indian Express
Income Tax Returns FY 2024-25 (AY 2025-26): Key differences between Form 16, 16A, and 16B
Tax filing season begins for the financial year 2024-25, and the assessment year 2025-26 has officially commenced, with salaried employees in India having received their Form 16 documentation. There are new changes in Form 16 that have been announced in the Union Budget 2025 to improve transparency by giving a detailed explanation of compensation components, tax-exempt allowances, and deductions, as well as which salary perks are subject to taxation. Form 16 is a TDS (Tax Deducted at Source) certificate provided by employers to salaried employees, allowing them to accurately submit their Income Tax Returns (ITR) and comply with tax requirements. READ: ITR Filing Last Date FY 2024-25 (AY 2025-26): Updated deadline for filing income tax returns in India for salaried individuals, companies, and more It's also important to note that employees who have changed employment throughout the fiscal year must obtain Form 16 from each employer. Form 16, along with its two components: Form 16A and Form 16B, are certificates issued as proof that Tax Deducted at Source (TDS) has been collected and deposited with the government. Employers give Form 16 to salaried employees for TDS on their salaries, whereas Form 16A is for TDS on non-salary income, like interest, commission, or rent. Form 16B is for property deals under Section 194-IA of the Income Tax Act. The buyer hands this form to the seller after taking out TDS on the sale of immovable property. Source: Clear Tax
New Indian Express
4 days ago
- New Indian Express
KIADB ‘double compensation scam': ED seizes Rs 1.8 crore TDS
BENGALURU: The Enforcement Directorate (ED), Bengaluru Zone, has provisionally attached Rs 1.80 crore in Tax Deducted at Source (TDS) credited against fake PANs in the Karnataka Industrial Area Development Board (KIADB) 'double compensation scam' in Dharwad. The scam, which led to fraudulent claims of compensation for land acquisition, was masterminded by VD Sajjan, a retired special land acquisition officer in Dharwad, in collusion with other accused people, including KIADB and bank officials. The accused created fake Aadhaar identities by fraudulently updating demographic details such as name, address, and mobile number through applications submitted to the Unique Identification Authority of India (UIDAI), the press report said. These fake credentials were then used to obtain fake PANs. Using the PANs, the accused opened bank accounts and submitted second-time compensation claims before KIADB, impersonating landowners who had either already been compensated or were deceased, it said. The compensation amounts were credited into the fake accounts, and the funds estimated at around Rs 46 crore were withdrawn in cash. During the withdrawal, TDS under Section 194N of the Income Tax Act, 1961, was deducted and credited against the fake PANs. The ED has now classified this TDS amount as 'proceeds of crime.' The demographic details in the Aadhaar database were altered back to the original identity after the funds were withdrawn.
Hindustan Times
4 days ago
- Hindustan Times
EOW to seek custody of IPS officer's husband in second FIR
MUMBAI: The Economic Offences Wing (EOW) of the Mumbai Police will approach the Prevention of Money Laundering Act (PMLA) court, seeking custody of Purshottam Chavan, husband of IPS officer Rashmi Karandikar. First, the Enforcement Directorate and then the EOW arrested had Chavan in a ₹25 crore fraud case. And now the EOW will arrest him in a ₹7.42 crore government land cheating case. According to EOW officials, they will approach the PMLA court with a production warrant. Chavan was first arrested by the ED in May, 2024, after which the PMLA court sent him to jail in the ₹263 crore Tax Deducted at Source (TDS) scam case. Thereafter, the Economic Offences Wing (EOW) arrested Chavan for allegedly defrauding 19 people of ₹24.78 crore by promising them homes at discounted rates under various government schemes. 'He was sent to judicial custody. We want to now arrest him in the second FIR against the husband of a Maharashtra cadre IPS officer; this time for allegedly cheating six people to the tune of more than ₹7.42 crore by promising them plots of land, owned by the government and Bombay Port Trust (BPT), at discounted rates,' said an EOW officer. He further said that Chavan and his accomplices cheated people by promising them government plots in Bhiwandi, Pune, Panvel and Sewri, and some plots of Bombay Port Trust (BPT) at discounted rates. 'They even forged documents to show they had signed agreements with the complainants. They also took money from some complainants after promising them contracts to supply hoodies and T-shirts to Nashik Police Training Centre,' said the officer. He also said that the ED had found incriminating documents during searches, implicating the accused in the cases.
Hans India
27-05-2025
- Business
- Hans India
CBDT Extends ITR Filing Deadline to September 15 for AY 2025–26 Amid System Overhaul and TDS Concerns
Bengaluru: In a significant move aimed at easing the compliance burden on taxpayers, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Income Tax Returns (ITRs) for the assessment year (AY) 2025–26. The due date, which was earlier set for July 31, 2025, has now been extended by six weeks to September 15, 2025. The Income Tax Department announced the extension through a post on social media platform X (formerly Twitter), stating that the decision was taken in light of substantial revisions made to the ITR forms this year, as well as the ongoing development and enhancement of the department's digital infrastructure. The department also cited the need to ensure that Tax Deducted at Source (TDS) credits are accurately reflected in the taxpayers' accounts. 'CBDT has decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025,' the department said in its post. 'This extension will provide more time due to significant revisions in ITR forms, system development needs, and TDS credit reflections. This ensures a smoother and more accurate filing experience for everyone. Formal notification will follow.' Tax experts have welcomed the decision, noting that the updated ITR forms include several new fields and disclosure requirements, which demand additional time for proper data gathering and verification. Moreover, professionals have pointed out that delays in the availability of Form 16 and the reconciliation of TDS entries on Form 26AS have made it difficult for many salaried and small business taxpayers to complete their filings on time. The extension is likely to benefit not only individual taxpayers but also chartered accountants and tax preparers, who have been urging the government to provide additional time to adapt to the updated reporting requirements and backend changes introduced in the filing portal. This is not the first time the CBDT has extended the return filing deadline in recent years. Similar extensions were granted during the COVID-19 pandemic and during past years when technical glitches or policy changes warranted more time for compliance. A formal circular from the CBDT detailing the extended deadline and clarifying any related provisions is expected to be issued shortly.
