Wrong submission of 80c prof

This query is : Resolved

praveen mishra (Querist)
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17 January 2014 We have two companies Kens technosoil and Kens Management....Kens technosoil pays rent for the office...and we want have same address for both the companies but lease agreement is with the name of Technosoil so what we need to do for address proof...does NOC from landlord along with lease agreement is sufficient in case we don't want to change our agreement....
My second query is what about NOC from director do we are needed that our share holders and Board of directors are same in both the companies

Querist : Anonymous

Querist : Anonymous (Querist)

17 January 2014 Hii

just wann ask what if some body walk's in to a insurance company and applies for an insurance plan for tax benefit and takes the receipt and bounce the cheque or stop payment for the cheque..... what is the penalties from income tax dept..... what is the process for raising complaint.....How do we stop this kind of issues.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 January 2014 1. yes NOC from the landlord is sufficient.

2. You dont need NOC from directors as it is the landlord's right to issue NOC to you.

3. however, wherein the whole of the space is let out to a company and the landlord is issuing a NOC to a company unrelated to you, you may object to the same to the extent issuing of such NOC is prohibited by the provisions of the lease deed.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 January 2014 well, if you are the insurance company, you must be having the PAN details of such persons. You can contact the jurisdictional AO informing them of the matter.

With regards to penalty, other than disallowance of such claim, penalties for wrongful submissions can be levied.