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• Fraudsters will be caught with AI
• Fake receipts will be detected with the help of AI
• No tension for those paying rent less than 1 lakh per annum

Every taxpayer can try to save tax by staying within the ambit of income tax laws. There are many options to save tax whether old method or new method. But people who adopt wrong methods to save tax may have more trouble now. Some people use fake receipts to avoid tax. But now the income tax department will catch them too. So know what is the technique.

will search with the help of AI

The Income Tax Department is now using Artificial Intelligence (AI) to detect fake rent receipts. It combines Form-16, AIS Form and Form-26AS.

AI verification

You get tax exemption on HRA received while staying on rent, but for this you need to show a valid rent receipt. Now the Income Tax Department is using Artificial Intelligence (AI) to find out whether you are saving tax by showing fake receipts or not.

What are the HRA rules?

In order to show HRA as a deduction, the company needs to pay HRA to you. If the annual rent paid is more than ₹1 lakh, the PAN number of the landlord is also required. The Income Tax Department checks whether the HRA declared by you matches the PAN related transactions of the landlord. The department may send a notice to you if any discrepancy is found between the amount shown and the transaction recorded.

No tension on rent less than 1 lakh

If you pay rent less than Rs 1 lakh per annum, you are not required to disclose the landlord's PAN. In such cases, the Income Tax Department usually charges Rs. Does not examine HRA claims up to 1 lakh.

Fraudsters will be caught with AI

Many people adopt fraudulent methods to avail HRA. This is because if you show more rent, you don't have to pay tax on that amount. Due to this greed, some people deposit fake receipts thinking that they will not be caught. But, the Income Tax Department's AI system has now become very capable of detecting such frauds and the department sends notices in such cases.