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Is PAN details of landlord compulsory for claiming HRA?
According to a government notification, PAN card information will now be required when filing HRA (House Rent Allowance) claims returns by employees. The government has stated that the landlord’s PAN card details will have to mentioned on the exemption form in case of house rent exceeding Rs. 1 lakh in a year.
Is it safe to share PAN card number to tenant?
Yes, the employee tenant can claim HRA deduction in his/her ITR but he/she will suffer excess tax deduction at source for non intimation of PAN to the employer thereby putting financial hardship.
How can I get PAN card details?
An applicant can find the assessee’s PAN number by following the procedures mentioned below:
- Step 1: Official Website. Visit the official website of the Income Tax Department.
- Step 2: Register.
- Step 3: User Type.
- Step 4: Specification of Details.
- Step 5: Activation Link.
- Step 6: Login.
- Step 7: My Account.
Can anyone misuse my PAN card photocopy?
If someone is able to get your xerox copy of the PAN, then also it may be misused to obtain a loan or credit card or something else in your name. So be careful when you are signing a xerox copy of the form. Some people may not be eligible to get loans due to bad financial records or low CIBIL score or any other reason.
Can I claim HRA if my Landlord does not have PAN number?
You probably have to forgo the HRA exemption as your company would not take any other document in lieu of landlord’s PAN number or a declaration that he doesn’t have a PAN number. So the next step is you can claim the tax paid back while filing tax return for the year.
Is PAN card required for tax exemption for HRA?
According to an earlier notification, the landlord’s PAN card details were to be mentioned in the form when filing a tax exemption for HRA if the annual figure was above Rs. 1, 80, 000. However, in 2013, the government released a new circular stating that PAN details had to be mentioned for HRS exemptions for amounts above Rs. 1,00,000.
Why is my Landlord asking for my PAN card?
Hence your landlord is rightfully asking for your PAN. The rent paid by you to your landlord is his income which he needs to disclose in his returns and pay tax on it. There is a provision to provide the details of PAN of the tenant in his income tax returns. This might be the reason to collect ur PAN
How to claim tax exemption on HRA in India?
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.