New Delhi: Salaried employees submit rent receipts to avail tax benefits under House Rent Allowance (HRA). However, several people submit fake rent receipts to save taxes. Experts are of the opinion that if the Income Tax (IT) department officials catch a taxpayer committing such a wrong act, the individual may have to pay 200 per cent more tax than the amount wrongly reported under Section 10(13A) of the Income Tax Act.

The Income Tax department verifies HRA claims through Form 16, PAN records and documents filed by the company where the individual works. A taxpayer should not fake rent receipts or rent agreement as........

© News9Live