do you submit fake rent receipts for hra?
is there any risk involved with this? please comment if you been submitting fake receipts since a long time and how you do it.
Funds transfer and rent receipts must match, else it’s very risky to submit fake rent receipts these days - IT dept is using AI now 😊
Do you mean IT dept has a free access to all vank database? I don't think so, but yes, if they identify a pattern, they may ask for additional proof such as fund transfer or rental agreement
One needs to mention landlord PAN in rent receipt, so it’s easy to check if landlord is also showing corresponding rent income
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Suggest you to not do that. Many people got notice this year. Think how much you are saving taking the risk that can ruin your mental peace, reputation, chance of visa etc.
Submit fake receipts only if yearly rent is less than ₹1L. If more, ideally all your transactions should be digital.
If your landlord is taking cash from you for rent>1L tell him/her beforehand that you’ll be sharing his PAN card so that he/she can plan accordingly. Mostly, they are not reporting the rental income if it is cash.
A better way to solve for this is to calculate your HRA exemption and ask your landlord to reduce the rent by that amount. Effectively, you’ll be paying the same rent and your landlord won’t pay any tax. Win-win.
Yes doing fake rent all through the career. But the receipt is not fake. The law allows you to pay rent to parents. So, why not use of the same?
Transfer the amount to parents -> SIP from parents account -> -> File income tax returns for parents declaring the complete rent as income -> Also savings on the investment returns as they are in lower income brackets
majboormajdoor
Stealth
8 months ago
This is not fake rent.
This isn't fake receipt.
Also , only works if parents earnings are not in tax slab.
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Qwerty2398
Stealth
8 months ago
It very difficult now to do fake receipt. Amounts will reflect against the pan number and your corresponding pan.
DesignTinker
Stealth
8 months ago
No. Never.
It will reflect against landlord pan. If he can offset it against 7 lakhs new regimes, both of you are good.
Wouldn't say fake, but, i pay rent to my mother who is the landlord for me. I pay my rents regularly and via bank transfer only and my mother shows it in her sources of income. I think this is legitimate as there is no rule that sys you should not pay rent to family members. However, i have heard that the OT dept is meticulous in checking such cases and bank transfers are a must here.
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