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FAKE HRA CLAIMS
Rs 27K income tax liability became Rs 9.44 lakh: Pune taxpayer claims fake deductions of Rs 10.65 lakh; taxman imposes 200% penalty; ITAT upholds fineA Pune taxpayer faces a hefty Rs 9.44 lakh penalty for misreporting Rs 10.65 lakh in deductions, including fake claims for political donati...- Rs 119 crore recovered from wrong HRA tax deduction claims, 25000 filed revised ITRs to declare Rs 1000 crore foreign income; Here’s how Nudge campaign worksIndia's tax collection saw a major boost through data-driven nudges. The NUDGE initiative guided taxpayers to correct claims, leading to ov...
- Can your HRA tax exemption claim get rejected despite submitting all proofs?Salaried individuals claiming HRA tax exemption should ensure accuracy and compliance, as discrepancies can lead to rejection. Tax officers...
- How to file ITR for FY23-24: Claim deductions, exemptions carefully while filing income tax return or you may end up in jailTwo out of three respondents in our survey believed honest people pay more tax, while one out of five respondents felt that the tax authori...
- Misuse of PAN for fake HRA claims under I-T dept radar: What should landlord do in case of a fake claim?Fake HRA Claims: If a tenant is using someone else's PAN to make a fake HRA claim, then without doubt the tenant would get into trouble, ho...
- Proof of HRA claims of previous years; can you really take it easy after CBDT's assurance of no review of old HRA casesRent HRA: The Central Board of Direct Taxes (CBDT) has clarified that there is no special drive to identify fake HRA claims from previous y...
- Does the new income tax regime suit you? Find out who should move from the old tax regime to the new oneWith the start of the new financial year, companies are reaching out to their employees to select the tax regime for 2024-25. This is an im...
- HRA tax exemption: HRA fraud with illegal usage of PANs detected by tax dept; how to avail House Rent Allowance, proofsHRA tax fraud: The investigation by the tax department began when authorities stumbled upon purported rent receipts totaling approximately ...
- Claiming fake deductions, rent receipts while filing your ITR can lead to heavy penaltiesIt is important for individuals to ensure that they have proofs and required documents for all the deductions and tax exemptions claimed wh...
- Salaried getting income tax notices for deductions of FY21-22 ITR: Watchouts for current ITRSalaried individuals have come under income tax department's scanner for making fake deductions claims in the income tax returns filed last...
- 10 salary components that can help employees reduce tax burdenYour salary structure is of utmost importance; as you would always seek to maximise your take-home salary. Do keep in mind that these compo...
- Tax saving guide for FY 2018-19Bookmark this page as we will be updating it with stories regularly to help you through the tax-saving season this year.
- Submitting fake bills to lower your tax liability? Tax department has ways to catch youWhile submitting proof for reimbursements make sure it is real and not fake as that would get you in serious trouble with the tax departmen...
- Confessions of a fake CA exposes lacuna in e-filing of tax returnThe online filing system introduced to bring in transparency can easily be short-changed as one can claim tax refund without any supporting...
- Can you claim HRA tax exemption for rent paid to spouse? Here's what experts sayA taxpayer is entitled to claim HRA exemption for rent paid to his or her spouse provided there is documentation to prove that the arrangem...
- Fake rent receipt won't help you lower tax burden anymoreAs per a ruling, the assessing officer can now demand proof, such as electricity bill, in allowing a lower taxable income as computed by a ...
- BJP makes extra judicial killing of Manipur a poll issueRights organisations claim altogether 1528 people including 31 women and 98 children were killed in fake encounters by security forces in M...
- How to guard against these 5 tax evasion practicesAccepting cash or repayment of loans from friends and family in cash for amounts higher than Rs 50,000 and not reporting it is also evasion.
- Filing tax returns? Ways to avoid errors or invite a tax noticeThe tax authorities are seeking more information about your income and expenses in the new forms introduced this year.
- Income Tax department puts HRA exemption under scannerSalaried taxpayers who claim HRA exemption will now have to report their landlord’s PAN if the total rent in a year exceeds Rs 1 lakh.
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