{"id":168557,"date":"2019-01-16T10:16:11","date_gmt":"2019-01-16T16:16:11","guid":{"rendered":"https:\/\/am22tech.com\/?p=168557"},"modified":"2020-12-30T02:12:18","modified_gmt":"2020-12-30T08:12:18","slug":"documents-required-for-hra-exemption","status":"publish","type":"am22_india","link":"https:\/\/www.am22tech.com\/in\/documents-required-for-hra-exemption\/","title":{"rendered":"Documents Required for HRA Exemption in India (Tax Saving)"},"content":{"rendered":"\n
Do I need to Submit any proof for my HRA claim?<\/strong>

You need to submit rent receipts if the total rent that you declare for a full-year (12 months) is more than INR 1 lakh.<\/p> <\/div>

Is Rent Receipt required for rent Less Than 3000 Per month?<\/strong>

No rent receipt required for rent less than 3 thousand per month. Just HRA declaration is enough to claim tax exemption.<\/p> <\/div>

What Documents are required for Rent Between 3001 to 8333 per month?<\/strong>

You need to show each month’s Rent receipt\u00a0<\/strong>required for rent between 3001 to 8333 per month.

Each HRA rent receipt\u00a0should have\u00a01 Rupee revenue stamp<\/a><\/strong>\u00a0along with\u00a0the landlord’s signature<\/strong>.<\/p> <\/div> <\/div>\n\n\n\n
Calculate HRA Tax Exemption<\/i><\/a>

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HRA Documents for Rent above 8334 Per month<\/h2>\n\n\n\n

You are paying rent more than 1 lakh per year which makes it about INR 8,333 or more per month.<\/p>\n\n\n\n

  1. Rent receipts:<\/strong>\u00a0Each month’s Rent receipt\u00a0<\/strong>required. Each HRA rent receipt\u00a0should have\u00a01 Rupee revenue stamp<\/a><\/strong>\u00a0along with\u00a0the landlord’s signature<\/strong>.<\/li>
  2. Landlord’s PAN number<\/a><\/strong>\u00a0is mandatory.<\/li><\/ol>\n\n\n\n

    Landlord does not have PAN number<\/h3>\n\n\n\n

    If the landlord does not have a PAN number, then these two documents are required from the landlord for your to claim HRA tax exemption:<\/p>\n\n\n\n

    1. Landlord Declaration<\/strong>: Write the reason for NOT having PAN on plain paper with Landlord’s address, phone number.<\/li>
    2. Form 60<\/strong><\/a>: Ask your landlord to fill this form 60 and submit it with your HRA claims.<\/li><\/ol>\n\n\n\n

      Landlord not sharing PAN number<\/h3>\n\n\n\n

      If the landlord is NOT sharing his PAN number for your HRA tax claim, then you are out of luck and cannot claim HRA.<\/p>\n\n\n\n
      Indian HRA Tax Calculator<\/i><\/a>

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      Is Rent Agreement Required for HRA exemption?<\/h2>\n\n\n\n

      Rental Agreement is not<\/strong> mandatory for claiming HRA tax exemption but rent receipts are required.<\/p>\n\n\n\n

      I strongly recommend having a rent agreement in place if you are paying rent to your wife or parents<\/a> as it helps prove the landlord-tenant relationship.<\/p>\n\n\n\n

      In case of renting with other friends like a shared flat, I recommend having a rent agreement to clearly show the amount of rent shared between tenants.<\/p>\n\n\n\n

      HRA Fake Rent Receipts Punishment<\/h2>\n\n\n\n

      Some people do create fake rent receipts and try to claim HRA tax exemption.<\/p>\n\n\n\n

      Fake rent receipts can be caught by an Income tax officer and you may have to pay penalties along with due income tax.<\/p>\n\n\n\n

      HRA Rent Paid Proof<\/h2>\n\n\n\n

      HRA rent paid proof is not required but can be requested by income tax officer if they have a suspicion about your rent receipts.<\/p>\n\n\n\n

      The best proofs are rent paid using bank cheque or online money transfers to landlord’s bank account.<\/p>\n\n\n\n

      Rent paid is more than 50,000 per month – TDS collection<\/strong><\/p>\n\n\n\n

      If you are paying rent of 50 thousand or more per month, then you have to deduct tax at source (TDS) @ 5% from the rent paid to your landlord.<\/p>\n\n\n\n

      You will have to pay the TDS penalty if you do not deduct TDS which is interest at 1% per month. This penalty increases to 1.5% per month where TDS is deducted but not deposited with the Income-tax office.<\/p>\n\n\n\n

      The penalty of Rs 200 per day is added to interest if the TDS deposit is delayed.<\/p>\n<\/i>\r\n\t\t\t\t<\/span>\r\n\t\t\t<\/span>

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