Unlike in the past when it was easier to escape the glare of the tax office, many may run out of luck now as their returns are red-flagged by softwares used by the revenue department. According to industry circles, notices are being served by the Income tax (I-T) department asking assessees to produce documentary proof for claiming exemption. These notices are for exemptions under house rent allowance under section 10 (13A) for salaried individuals; allowance under section 10 (14) for hiring a helper to perform official duties; or deduction under section 24 (b) of the I-T Act for interest paid on home loans. The notices, pertaining to assessment years 2022-23, were issued as per section 133(6) of the law which empowers the tax assessing officer to call for information of certain details of transactions done during a particular year. Source from: https://economictimes.indiatimes.com/news/economy/policy/salaried-individuals-under-i-t-scanner-as-taxman-serves-notices-asking-assessees-for-documentary-proof-to-claim-exemption/articleshow/102027383.cms?from=mdrShare this: TwitterFacebookLinkedInTelegramWhatsApp

Source: Economic Times July 22, 2023 13:18 UTC