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Old Tax regime: Rent receipts are being properly investigated, your dream of saving money in the old tax regime will be shattered..
Even today, more than 30 percent of income taxpayers file ITR by adopting the old tax system. To get tax exemption, they have to provide proof of investment. Rent receipts also have to be ...
Business Today24d
Planning to submit fake rent receipts to claim HRA? Here’s how Income Tax dept catches fraudsters
However, in an attempt to save money, tax-payers may often resort to submitting fake rent receipts. Experts warn that the Income Tax (IT) Department is cracking down on fraudulent claims ...
Kiplinger5y
A New Tax Break for Rental Income
Keep expense receipts, and insure the property ... reported on Schedule E. Also, the rental income generally isn’t subject to self-employment tax. If you qualify, you take the 20% QBI deduction ...
Tax Query: Rental income from a ‘gifted’ flat
Senior citizen with pension, rental and interest income seeks clarification on tax implications of gifting property to daughter.
The Free Press Journal11d
HRA Fraud Detection Goes High-Tech, AI Helps Catch Fake Rent Receipts
In the era of Artificial Intelligence (AI), the Indian Income Tax Department is leveraging AI technology to detect fraudulent rent receipts used for claiming House Rent Allowance (HRA).