HRA - Help Needed
My PG rent is 11x the amount, but the HRA allotted to me from the company side is 17x, if I show 17x in papers, would it cause any trouble to the PG owner, I heard they would get notice. Is it okay to do so, please help here.
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This is illegal. Don't do it.
Afaik the landlord's pan card also needs to be submitted for hra claim. So govt. can cross check at the back end. So even if it's not caught right away, 2-3 years down the line you might get caught and will have to pay a hefty fine
If you are giving owner pan number, the rent that you declare to the company is going to be submitted to the ITD against your owner PAN. When the owner is going to file his returns, his CA will find it and the Owner may ask you to give him the income tax he has to pay extra.
It will give trouble to u too and the tax filing will not match and amount deducted from ur account will be less than what u claimed and then u have to pay heavy penalty, not to say it will open up more things in ur ITR filing for anything like LTA etc which u have claimed falsely, it will create major mess for u. Right from CA to IT officer everyone will demand money to settle things and the amount u have to shed will be immense
If you show an extra amount for hra for tax saving then the landlord is expected to pay tax on that extra amount. If he doesn't then you both will get a notice down the line.
