Sage-Tips

Can rent be paid to someone other than owner?

Can I pay rent to my relatives? Yes, you can pay rent to your relative if they are the owner of the property. In case of joint ownerships, you can transfer the rent amount to one of the owner’s accounts, or if they have a joint account.

How do I claim HRA exemption myself while filing my income tax return?

Once you know the HRA claim amount, use the right ITR form and file for your ITR by following these steps:

1. Enter your salary in ‘Salary as per provisions contained in section 17(1) ‘ in Form 16 – Part B.
2. Enter the HRA calculated above under ‘Allowances exempt u/s 10’ in the ITR 1 (select 10(13A) in the drop-down menu)

Is it mandatory to put revenue stamp on rent receipt?

You don’t even need the revenue stamp if you are payment of rent is made via cheque. Revenue stamp is only needed if payment made in cash per receipt is more than Rs 5,000.

Can a husband pay rent to wife and claim HRA?

You can certainly claim the rent paid to your wife as an expense for the part of the premises used for your business or profession but generally, it is more onerous to prove a commercial relationship between husband and wife. We live in a house which is in the name of my wife.

How to claim HRA from Nestaway through service request?

Go to your Dashboard and then Service Request section. Select Enquiry->Others, then give the title of request as Need to submit Owner’s/Nestaway’s PAN for HRA claim and in notes/details section give more details and submit the ticket. You will receive a reply from Nestaway within a day or two.

Do I need a pan number to claim HRA exemption?

where the annual rent paid is more than Rs 1,00,000 per annum – It is mandatory to report the PAN of the landlord to the IT Department to claim HRA exemption. in case the landlord does not have a PAN – one must obtain a declaration to this effect from the landlord with name and address of the landlord.

How to claim tax exemption on HRA under new law?

New Law Perquisites As per the law in force, all employees who declare HRA of above Rs. 1, 00, 000 a year will be required to submit their landlord’s PAN details when claiming exemption. The employee is required to submit a form, known as the PAN Card Declaration from Landlord along with the tax exemption claim form.

Do I need a pan number of the owner of Nestaway?

Generally you have to submit PAN number of the Owner as Nestaway is just a intermediary company between you and the Owner. But in your agreement i cannot see the Owner’s name as it is between you and Nestaway, so i think your situation is different.