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house rental receipt Supporting Documents??

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 January 2011 Dear all,

We stated new comapny, related to salried employees we are collecting the rent receipts but we have a fact that employees are giving the fake receipts which shows high rent paid (actually paid low). however the proof collected from the employee is in formal way. hence i want know, rent receipts is enough to collect or we need to take any other else. and whether rent receipts is sufficient for the income tax assessment???.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
28 January 2011 Rent receipt is a valid proof.

If rent exceeds an amount say Rs. 20,000/- p. m. ask for a rent agreement. That would suffice.

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