The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that declaring low rent for a flat by the owner in the income tax return is a device for tax evasion. The assessee, an NRI, let out its flat to Bank of America for a rent of Rs.2 Lacs per month. The assessee […]
The post Quoting of Low Rent by Flat Owner is Tax Evasion: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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