Income Tax Department: If you also work and are engaged in different tricks for tax saving every year, then you need to be careful now. Such people are being identified by the Income Tax Department and notices are being sent to them. Most of the attention is being kept on those people who are claiming their House Rent Allowance i.e. HRA fraudulently. Tax collection notices are being given to such people. Today we are going to tell you that if you also get such a notice, then how should you be prepared and which documents should you keep safely.
People save tax through fake means
Many people do not live on rent, but to save tax, they claim HRA in their office or while filing ITR. Many people take HRA even by using fake PAN card. At the same time, there are some people who are showing that they pay money for their parents’ living. That means the house is in the father’s name and he gives him money in some form or the other every month. Whereas nothing like this happens. This is the reason why action is now being taken by the Income Tax Department.
How much will be the loss?
Now let us tell you how big a loss you can suffer if you do this. If you are caught making a fake HRA claim, not only will it be recovered from you, but you may also have to pay full interest and a penalty of up to 300%.
Keep this document safely
If you want to avoid this loss, then always keep some documents with you and take care of some things. Keep your rent agreement and the rent receipt you receive every month safely. Apart from this, if you are giving rent or money to your parents, then keep the proof of this with you. By doing this no one can bother you and you can reply to the notice with proof.
read this also – Metro Helpline: If you are facing any problem in metro, you can talk to the driver directly, this is the way.