Srinagar, Sep 18 :

Several assistant professors posted in different educational institutions of Srinagar are using ‘forged documents’ to evade the tax.

Most of them have forged the documents showing that they are staying at rented accommodations in Srinagar.

The ground investigation reveals that they have their own residential houses in Srinagar and are not living at rented accommodation.

These professors have submitted the ‘falsifying and forged’ documents to claim tax exemptions or to reduce their tax liability.

The RTI reveals that over one hundred assistant professors are reducing their tax liability by showing that they are residing at rented accommodation.

“However, on ground, the facts are different. These assistant professors have their own residential houses in Srinagar. In many cases, we found that the name of landlords they claim to have hired the accommodation at, doesn’t exist on ground,” said Advocate Masoodi.

He added that the tax evasion includes any activity that aims to hide, understate, or falsely report income to reduce tax liability by an individual.

KNS is in possession of copies of the documents submitted by these professors for tax evasion, thus bringing the loss of crores of rupees to the state exchequer by cheating.

For most employees, House Rent Allowance (HRA) is a part of their salary structure. Although it is a part of your salary, HRA, unlike basic salary, is not fully taxable.

Subject to certain conditions, a part of HRA is exempted under Section 10 (13A) of the Income-tax Act, 1961.
The amount of HRA exemption is deductible from the total income before arriving at a gross taxable income. This helps an employee to save tax. The HRA received from the employer, is fully taxable if an employee is living in his own house or if he does not pay any rent. (KNS)

By SNS KASHMIR

Shaharbeen News Service Kashmir is a news service which covers, gathers, writes, and distributes news to newspapers, periodicals, radio and television broadcasters, government agencies, and other users. We at SNS Kashmir believe in fair and independent journalism to inform our masses or subscribers and readers about the happenings around the world. The prime focus of the news gathering and reporting is focused on Jammu and Kashmir state.

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