Table of Contents
Can there be rent agreement between father and son?
Simple answer is YES he can. Long answer to Can he claim HRA while living with his parents is explained in article below.
Is subletting allowed in India?
The Supreme Court further stated, “Subletting, assigning or otherwise parting with the possession of the whole or any part of the tenancy premises, without obtaining the consent in writing of the landlord, is not permitted and if done, the same provides a ground for eviction of the tenant by the landlord”.
Is sub-letting a crime?
Certain tenants living in social housing may be committing a criminal offence if they sublet their home without their landlord’s permission or by going against what it says in their tenancy agreement.
How do I claim HRA if I stay with parents?
Documents required to claim the HRA while staying with parents. Rent agreement and rent receipts – Usually employers ask for a copy of the rental agreement for their records. They can also request submission of rent receipts to allow you HRA exemption. You can enter into a simple rent agreement with your parents.
What happens if you dont claim HRA?
If rent receipts are not submitted to the employer: In this case, the employer would not have made the HRA exemption in the taxable salary and hence, deducted a higher TDS amount. When you claim HRA deduction when filing your ITR, the excess TDS will be refunded to you.
Is rent receipt required for HRA exemption in India?
You must ask for receipt for the rent paid every month irrespective of the channel used for making payments. Pinky Khanna, Director, People Advisory Services, EY India says, “It is mandatory to furnish rent receipts to the employer for claiming HRA exemption for the monthly rent paid more than Rs. 3000 per month. “.
Can I claim HRA on rent paid for my parents?
With respect to the rent paid for your parents, a salaried taxpayer will not be able to claim any exemption or deduction. Consequently, you can claim HRA exemption only for the location where you pay rent for your accommodation.”
Can I claim HRA exemption for accommodation?
Consequently, you can claim HRA exemption only for the location where you pay rent for your accommodation.” My daughter had been working and filing tax returns for the past two years. This year, she left her job to pursue higher studies in Finland. A sum of Rs 2 lakh remains in her SBI account here.
Can an Indian employee claim HRA in two different countries?
So, even during normal times and in spite of the employer and employee being situated in two different countries, the Indian law will still allow the Indian employee to claim the HRA benefit, as long as he complies with the basic conditions of having paid the rent for the residential accommodation occupied by him and not owned by him.