Income Tax Return Filing: Which salaried employees need to submit investment proofs to cut tax outgo? – Times of India

The Income Tax Act, 1961’s old tax regime provides various tax exemptions and deductions. (AI image) Income Tax Filing FY 2024-25: Employers are currently requesting salaried employees to provide documentation of tax-saving investments and expenses if they wish to reduce their tax liability. These documents are essential to prevent complete tax deduction at source (TDS)…

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HRA claims and tax scrutiny: CBDT assures no review of old HRA mistmatch cases; but here’s what experts suggest – Times of India

HRA claims mismatch: Taxpayers should remain cautious. If there’s a discrepancy between the rent paid and the rent received by the landlord, potential tax evasion issues may arise. Taxpayers making false HRA claims, whether intentionally or unintentionally, should be concerned about receiving a tax evasion notice from the income tax department. Source link

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