The new income tax circular 05/2011 mandates that if the annual rent exceeds Rs.1,80,000 one should produce the PAN number of the landlord or a declaration by the landlord that their income is below the taxable limits. Naturally I'm planning to produce fake receipts for Rs.20,000 p.m and a fake declaration that landlord's income is below the taxable limits.
Is there anything I should be worried about?
Is there anything I should be worried about?