Need help?
During the investment declaration in the month of Jan, i declared rent paid higher as compared with actual rent paid to claim higher tax deduction.
While filing ITR, I switched to a new tax regime and found that tax payable annually is lower than the old tax regime with a higher tax deduction claimed by me using a fake rent receipt. And filed the ITR in new tax regime and over 1 lakh refund is due now
The landlord received a higher income in the AIS portal, due to the higher rent paid reported by me in my company.
He has raised the dispute in AIS, and the same dispute has reached my company through the income tax portal.
Now my company is asking justification. They are asking that the landlord has reported the rent received to him as 280000 but I have reported 350000.
What should I reply?
Although I have filed ITR in the new tax regime and therefore no HRA exemption claim actually.