Dear Seniors,
Apr 13, one of my friend was promoted and her organization offered her car lease and asked her to submit RC and insurance copies of a car in the name of any family member to get the tax benefit as they would make a cheque only in favor of that person. She is single and own the only car in her family thus her colleague suggested and convinced her to forge the RC documents (as they did the same), she doctored both copies with some expert help and signed the contract papers with her organization and then car lease was through.
But since then she was very uncomfortable about that episode and now she herself terminated the car lease agreement, but she is worried about the car lease of those 8 months, want to correct everything before FY over.
She told me that she will show the amount reimbursed to her as additional income and pay the tax but I really don't have any idea.
PLEASE suggest seniors.... She is really panicked.
Regards,
shasa
From India, Bareilly
2Apr 13, one of my friend was promoted and her organization offered her car lease and asked her to submit RC and insurance copies of a car in the name of any family member to get the tax benefit as they would make a cheque only in favor of that person. She is single and own the only car in her family thus her colleague suggested and convinced her to forge the RC documents (as they did the same), she doctored both copies with some expert help and signed the contract papers with her organization and then car lease was through.
But since then she was very uncomfortable about that episode and now she herself terminated the car lease agreement, but she is worried about the car lease of those 8 months, want to correct everything before FY over.
She told me that she will show the amount reimbursed to her as additional income and pay the tax but I really don't have any idea.
PLEASE suggest seniors.... She is really panicked.
Regards,
shasa
From India, Bareilly
Dear sasha, she is quite right with her terms. Whatever she had done is fraud. Now she is not in that agreement. Point is paper documentation fraud and tax rebate fraude. So if somebody find this then definately she will get imprisonment nd also she will have to pay all the amount. So she is absolutely right. She can show it an additional income have to pay all the amount which she got in rebate. But tell her she have to pay this befor she found guilty otherwise consequences will be bad. Rest will be paper documentation fraud it will be settled somewhere in monetory terms.
From India, Gurgaon
From India, Gurgaon
Dear friend;
In the documents submitted; who had been shown as the owner of the vehicle ??
Were the cheques made out in the name of that person ??
She should immediately inform the company that this arrangement no longer exists; and no further cheque be made in the name of that person.
Please revert back, in case you need further clarification, while furnishing additional information related to the queries.
Warm regards.
From India, Delhi
In the documents submitted; who had been shown as the owner of the vehicle ??
Were the cheques made out in the name of that person ??
She should immediately inform the company that this arrangement no longer exists; and no further cheque be made in the name of that person.
Please revert back, in case you need further clarification, while furnishing additional information related to the queries.
Warm regards.
From India, Delhi
Dear Sirs, Thank you for the valuable suggestions.
She had shown her father as the owner of the vehicle and cheques were made in his name, which were deposited in their joint account and she had requested her company to discontinue the lease agreement and the agreement has already been terminated.
Now, Is there any possible way to remove the lease documnent from records or to protect her from all sort of legal charges / fraud prosecutions.
Can she ask her company to cancel the agreement from begining and surrender the entire reimbursed amount back and ask her company to deduct the taxes and credit the balance amount in her account, if yes then how should she approach, with what justifications, reasons.
We are clueless, what a silly mistake she has done. .. plz plz. advise.
Regards,
Shasa
From India, Bareilly
She had shown her father as the owner of the vehicle and cheques were made in his name, which were deposited in their joint account and she had requested her company to discontinue the lease agreement and the agreement has already been terminated.
Now, Is there any possible way to remove the lease documnent from records or to protect her from all sort of legal charges / fraud prosecutions.
Can she ask her company to cancel the agreement from begining and surrender the entire reimbursed amount back and ask her company to deduct the taxes and credit the balance amount in her account, if yes then how should she approach, with what justifications, reasons.
We are clueless, what a silly mistake she has done. .. plz plz. advise.
Regards,
Shasa
From India, Bareilly
Dear Sasha
Thanks for your update.
Its good that the agreement has been terminated; and further more, she is even willing to refund back the amount.
I understand that what is important for her now is to get back the impugned documents. The situation as such is that these may be in the custody of Finance & Accounts department as records for the amount paid. When the amount is refunded; there would be another set of entries and records.
Thus, even after depositing the amount, there is no guarantee that the documents shall be handed back. However, what can be done is to "deface" the documents and write "CANCELLED" in thick bold letters over every page. This is part of the general practice
I have no idea about the size of her company or the practices of their accounts deptt. She can discuss the matter confidentially with her accounts department, if possible.
However, once the money is deposited back; she can not be accused of personal gains.
Another point is :
If the money has been paid(through cheque) in the name of her father, the "owner of the car"/lessee; the refund will not make any difference to her tax liability or gains.
Warm regards.
From India, Delhi
Thanks for your update.
Its good that the agreement has been terminated; and further more, she is even willing to refund back the amount.
I understand that what is important for her now is to get back the impugned documents. The situation as such is that these may be in the custody of Finance & Accounts department as records for the amount paid. When the amount is refunded; there would be another set of entries and records.
Thus, even after depositing the amount, there is no guarantee that the documents shall be handed back. However, what can be done is to "deface" the documents and write "CANCELLED" in thick bold letters over every page. This is part of the general practice
I have no idea about the size of her company or the practices of their accounts deptt. She can discuss the matter confidentially with her accounts department, if possible.
However, once the money is deposited back; she can not be accused of personal gains.
Another point is :
If the money has been paid(through cheque) in the name of her father, the "owner of the car"/lessee; the refund will not make any difference to her tax liability or gains.
Warm regards.
From India, Delhi
HRA rent receipts, Car lease, Medical reimbursements - In my knowledge and experience, 75% of the salaried class shows false papers and claim tax rebate. IT dept doesn't target the salaried class in depth as they are only contributing IT to the exchequer sincerely except some minor gains on tax savings. IT dept is fully aware of such practices but silent on many cases.
Pon
From India, Lucknow
Pon
From India, Lucknow
i had similar case but in this case Company raised the case regarding false documentation to employee while clearing his full and final.Now company don't want to pay his salary for her notice period and now CFO of company blackmailing him saying if he raised the query again then they wail make an FIR. However he is ready to pay the tax and fine if there is any but the company don't want to do that...Financial year is already closed. Company have to pay almost 5 lacs rs back to the employee for his FNF.
Please suggest
From India, Delhi
Please suggest
From India, Delhi
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