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Can we use wife PAN card for HRA?
A taxpayer is entitled to claim the HRA exemption for rent paid to his or her spouse provided there is documentation to prove that the arrangement is genuine. Neither the Income-Tax Act, 1961 nor the Income-Tax Rules, 1962, prohibit claiming HRA exemption on the rent paid to one’s spouse.
Can I use my mother’s PAN card for HRA?
Merely living in your parent’s house will not give you an entitlement to claim any amount as house rent allowance (HRA) exemption. You will have to give the house owner’s PAN—your mother in the instant case—if the aggregate rent paid during the financial year exceeds Rs1 lakh.
Is house owner PAN mandatory for HRA exemption?
Documents like rent receipts and rental agreements will be required to be submitted to the employer for claiming deduction for house rent allowance. If the payment of rent is more than Rs 1 lakh per annum, then PAN of the house owner will be required to be submitted.
Is HRA admissibility to both husband and wife?
Yes, there is no restriction on claiming HRA benefit by both the spouses. If you and your wife both are paying the rent then both can claim HRA benefit separately for the respective share.
Do I need a pan number for HRA claim?
“Once a person is to file his/her income tax return, there is no requirement to furnish the PAN of landlord,” he adds. Mr Sehgal however says that the HRA claim could attract scrutiny from tax authorities. “The tax authorities can examine the cases to verify the genuineness of the claim made by the employee,” he says.
Can employees claim tax benefits under HRA in their tax return?
Tax experts say that an employee can still claim tax benefits under HRA in his or her tax return. House rent paid by employees are exempt from tax to a certain extent under HRA tax benefits. If the annual rent paid by the employee exceeds Rs 1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer.
Does the PAN number of the owner husband need to match?
The rent is paid to the owner husband and not to the wife, therefore, PAN should be of husband only. In case of any verification, the PAN of wife will not match. You may hand over the cash or cheque to the wife but it is on behalf of the husband only.
Can my wife and I claim HRA if we pay rent together?
My wife and I together pay Rs 20,000 a month as rent and the lease agreement are in both our names. Can we both claim HRA benefit? Yes, there is no restriction on claiming HRA benefit by both the spouses. If you and your wife both are paying the rent then both can claim HRA benefit separately for the respective share.