house rental receipt Supporting Documents??
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 January 2011
Dear all,
We stated new comapny, related to salried employees we are collecting the rent receipts but we have a fact that employees are giving the fake receipts which shows high rent paid (actually paid low). however the proof collected from the employee is in formal way. hence i want know, rent receipts is enough to collect or we need to take any other else. and whether rent receipts is sufficient for the income tax assessment???.
We stated new comapny, related to salried employees we are collecting the rent receipts but we have a fact that employees are giving the fake receipts which shows high rent paid (actually paid low). however the proof collected from the employee is in formal way. hence i want know, rent receipts is enough to collect or we need to take any other else. and whether rent receipts is sufficient for the income tax assessment???.
28 January 2011
Rent receipt is a valid proof.
If rent exceeds an amount say Rs. 20,000/- p. m. ask for a rent agreement. That would suffice.
If rent exceeds an amount say Rs. 20,000/- p. m. ask for a rent agreement. That would suffice.
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