Fake Rent Slip: This time the Income Tax Department has made such a system that now if anyone tries to save tax with the help of fake documents, he will be caught immediately. Most of the taxpayers do such work through fake rent slips, which is being caught this time and notices are being sent immediately. Let us know about it in detail.
Since the Income Tax Department has started matching Form-16 with Annual Income Figures (AIS) and Form-26AS. Since then it is no longer easy for a taxpayer to claim tax exemption through fake documents.
Many taxpayers used to get tax exemption worth thousands of rupees by submitting fake rent slips, which is now being caught and notices are being sent to them promptly by the department. The Income Tax Department is sending direct notices to the taxpayers who avail the deduction wrongly and is also collecting tax along with penalty from them.
This is not happening only with Sanjay, but the Income Tax Department has now started identifying thousands of taxpayers who are claiming tax through fake rent slips. The department is also sending notices to such taxpayers. As soon as the taxpayers receive the notice, they are shocked and only one question arises in their mind that how the Income Tax Department caught this fraud.
The department has created this system
Tax expert and CA Prashant Jain says that since the Income Tax Department has started matching Form-16 with Annual Income Figures (AIS) and Form-26AS. It has become easy to catch such fake cases.
Whatever taxpayers claim tax exemption on House Rent Allowance (HRA) through rent slip, it is matched with their landlord. When the annual income statements of both are compared, the difference is clearly visible.
How is fraud being caught?
Tax experts say that the department is using Artificial Intelligence (AI) to detect such cases. Through this, all sources of income and expenditure are matched and false claims are quickly detected. Actually, some rules have been made to claim income tax exemption through rent slip, which is important for everyone to follow.
