Submission of PAN Details of Landlord - Is compulsory
Submission of PAN Details of Landlord: HRA exemption can be availed up to least of the following, Submission of Land Lord's PAN details, Violation of rule.
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Submission of PAN Details of Landlord: HRA exemption can be availed up to least of the following, Submission of Land Lord's PAN details, Violation of rule causes ? etc. Now you can scroll down below and check complete details regarding "Submission of PAN Details of Landlord - Is compulsory"If you like this article then please like us on Facebook so that you can get our updates in future ……….and subscribe to our mailing list ” freely “1) Actual HRA received. 2) Rent paid - 10% of the salary. 3) 50% of salary if house is located in Delhi, Mumbai, Kolkata or Chennai.
40% if house is located in other than these cities.Must Read - Instructions for Filing PAN Card Correction FormBut the Above said circular brought by CBDT made it compulsory to submit the PAN details of Landlord if the rent paid is Rs.1 lakh p.a or Rs. 8,333 per month. or above. This rule was brought by Department in order to avoid the submission of fake rental payments to claim HRA. Must Read - Lost your Pan Card?Landlord has to include this rental income while filing his return of income. If he fails to submit the details of this income in the return then he should be ready to face the difficult situations that arise if department comes for scrutiny. Must Read - PAN Card Status, PAN Name By PAN No, Know Your PANHowever, employees who receive HRA up to Rs. 3,000 per month are not required to submit receipts for proof of rent paid.
Submission of PAN Details of Landlord - Is compulsoryFor salaried individuals, one of the most common exemption sought is house rent allowance. House Rent Allowance is the allowance given by the employer to employees in order to meet the expenses towards accommodation. If you are paying rent and getting HRA allowance every month, you are eligible for deduction of HRA according to the prescribed limit of HRA exemption. Must Read - Documents Required for PAN Card Application
HRA exemption can be availed up to least of the following:
40% if house is located in other than these cities.