The new income tax circular 05/2011 mandates that if the annual rent exceeds Rs.1,80,000 one should produce the PAN number of the landlord or a declaration by the landlord that their income is below the taxable limits. Naturally I'm planning to produce fake receipts for Rs.20,000 p.m and a fake declaration that landlord's income is below the taxable limits.
Is there anything I should be worried about?
From India, Bangalore
Is there anything I should be worried about?
From India, Bangalore
1168
I wonder where the ETHICS have gone!!! Just because someone else does should we copy the same? There is a saying in Kannada languge "Kallana hendthi ondu divasa munde aguttale" meaning "A robber's wife wil become a widow"; the implication is that a robber will be caught in the long run. So will people submitting fake reports. Hence BEWARE..
From United Kingdom
From United Kingdom
Today many people does the same from the rent receipt to the medical bills for reimbursement.
You must have to give the rental agreement and the PAN no. of the Landlord.
you dont have to get worried it is your landlord who is going to be worried because he is going to be penalised for showing false income statement.
Only your Landlord can sue you if he gets caught.
From India, Mumbai
You must have to give the rental agreement and the PAN no. of the Landlord.
you dont have to get worried it is your landlord who is going to be worried because he is going to be penalised for showing false income statement.
Only your Landlord can sue you if he gets caught.
From India, Mumbai
Dear Mr. Pon
Normally there is a faith that the senior officials never fabricate fraud documents and produce to the HR Department. That's the reason they have not asked for rental Agreement from you. But when the IT department gets doubt on you, that time surely they will start digging all the documents from you and start asking all the old records. That time you may have no records with you to produce to the appropriate authorities.
Hence you are requested to keep the rent agreement also to safeguard your future querries from IT Department.
From India, Kumbakonam
Normally there is a faith that the senior officials never fabricate fraud documents and produce to the HR Department. That's the reason they have not asked for rental Agreement from you. But when the IT department gets doubt on you, that time surely they will start digging all the documents from you and start asking all the old records. That time you may have no records with you to produce to the appropriate authorities.
Hence you are requested to keep the rent agreement also to safeguard your future querries from IT Department.
From India, Kumbakonam
I need your help!
My salary is less than Income tax slab but still i want to fill my ITR for 2011-2012,
Plz guide which form to be filled and how?
One more thing do i need to ask for form 16 from my company as the accounts deptt is saying we don't deduct your tax and fill challan so form 16 can't be issued to you.
Plz guide soon as i want to buy some property for which i have to show strong ITR
From India
My salary is less than Income tax slab but still i want to fill my ITR for 2011-2012,
Plz guide which form to be filled and how?
One more thing do i need to ask for form 16 from my company as the accounts deptt is saying we don't deduct your tax and fill challan so form 16 can't be issued to you.
Plz guide soon as i want to buy some property for which i have to show strong ITR
From India
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