How many of us show the correct amount for HRA in our IT declaration? Also does the govt have the resources to check on every rent receipt submitted to employers? My case, I stay with my parents and also take the HRA which is part of my salary. End of the year, I submitted rent receipts for a property in a neighbourin town( 80km from where I stay) belonging to my relatives. Since these relatives are NRIs, they dont file any return and dont show any income in India, as they have no interaction with banks or financial institutions and had built the house from their own funds. How the hell can Chidambaram and his entire department track this? or will they even bother. Renting might also be a good option, currently since the IT department does not track anything.. eg; you have a HRA of 10,000 Rs. You rent a 2 BHK for 7500 and end of the year you submit rent receipts and your spouse who is also working submits rent receipts ( printed from the company printer!!) for the same property!!! what happens, you pocket the difference and the govt is no wiser
