Income Tax Department sends notices to many senior executives earning over Rs 50 lakh for alleged misuse of exemptions

Tax authorities are scrutinizing top executives for income underreporting and false claims. Notices have been issued to CEOs and MDs of multinational companies. The focus is on undeclared foreign assets, overseas income, and inflated allowances. This crackdown is part of a broader government initiative for better tax compliance. Many high-earners are being asked to revise their tax returns.