PrancingBurrito
PrancingBurrito

Advice needed and word of caution

So like many/some of us, I claimed HRA more than actually paid quoting my landlord pan. Now when he was filing ITR, his CA found this out, probably through AIS. He asked me to get it fixed and vacate. Question:

  1. Has anyone else faced it?
  2. What would be the best solution? My CA suggested to request the landlord to accept that extra income on ITR and pay tax. I will offer her to pay the difference, Reason being that if he rejects, it will eventually come to me as IT notice and then I would need to provide evidence which I won’t have for inflated amount .
17mo ago
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ZestyQuokka
ZestyQuokka

How much is the difference amount?

PrancingBurrito
PrancingBurrito

Approx 4 lacs.

SnoozyPotato
SnoozyPotato

That’s actually illegal, this is a big mess, you might end up paying the landlord the diff as well as money to pay for as income tax on that difference amount

GroovyDonut
GroovyDonut

Can't you just do a modified filing with the right amount and pay tax on that

SnoozyPotato
SnoozyPotato

The problem is not just his ITR, by using landlords pan and declaring amount higher then what was actually paid to the owner, the OP has screwed up the landlords returns, why would owner take the fall, he is going to simply deny those transactions, now the onus will be on the other side to prove the transactions

PerkyMarshmallow
PerkyMarshmallow

There is bachkaan and then there is whatever the fuck this is. Why do we behave like fucking criminals to save a few thousands. When dealing with the govt just be honest. Paisa Banaloge side mein. Ab yeh bawal kaun solve karega?

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Comments
user

The way it started I thought this was a Quant question. Find x.

user

I see a trend in freshers/early professionals here on GV constantly in search to game the tax system 😂 Bhai log...