Avoid last minute hassle of arranging rent receipts
Fill the required details
Print the receipt in PDF Format
Get the receipt signed from your landlord
Submit it to your company's HR department
FAQ Frequently asked questions about HRA or Rent Receipts
? Why do I want to get a receipt from my landlord ?
our company wants a image of lease price to allow exemption on HRA. The corporation is required to acquire proofs from you earlier than permitting any exemptions & deductions. this is regularly your employer’s duty as per the tax act.
? Do I want a rent settlement with my landlord ?
Yes, you want a rent settlement with your landlord. This settlement ought to have small print of the lodging on lease, length of rent and rent. This report can also additionally have to be submitted to your employer.
? Why does my business enterprise ask me to post hire receipt proofs ?
To enable you exemption on HRA, it is obligatory for the organization to collect proof of lease payment. The company will provide you exemption on HRA supported these lease receipts. Your closing liabilities are going to be calculated accordingly. Your TDS shall be adjusted so you don’t want to pay tax on HRA.
? Do I want a receipt for each month ?
Usually, employers want receipts for three months or so.
? Do I want the PAN quantity of my landlord ?
If the annual hire paid by means of you is extra than Rs 1,00,000, it is obligatory to gain PAN of the landlord and record it to the business enterprise to declare HRA exemption. In case the landlord does no longer have a PAN, you can ask for a announcement to this impact from the landlord with identify and tackle of the landlord. And hold it safely in your records.
? Do I want a scanned reproduction of my landlord’s PAN card ?
No, you don’t want to maintain a scanned reproduction of your landlord’s PAN.
? I used to be now not capable to declare HRA from my company. Can I declare it myself ?
Yes, HRA exemption are regularly without delay claimed in your tax return. you will use this calculator to searching for out out the exempt element of HRA. This exempt quantity has acquired to be decreased from your complete taxable salary. web quantity is proven as your ‘income from salary’ in your tax return.In case you declare HRA exemption without delay in your earnings tax return , you prefer to hold lease receipts and hire settlement safely in your records; simply in case the assessing officer asks for them later.
? I have modified jobs this year. Should I share my historical lease receipts with the new company ?
If your present day organization is permitting you HRA exemption from preceding job's income, you might also be required to put up your historic lease receipts. Do take into account to reveal your profits from your preceding employment to your modern business enterprise in Form 12B.
? My landlord is refusing to provide me a lease receipt. What can I do ?
In case your landlord does no longer furnish you a hire receipt you can also no longer be in a position to declare HRA exemption. Do agree with your landlord concerning lease receipts earlier than taking the lodging on rent.
? I was once in a apartment rental for phase of the year. Can I declare HRA ?
Yes, you can declare HRA exemption for the months you had been paying rent.
? Is there a closing date for submitting proofs (rent receipts) to my company ?
Since employers want to deduct and savings TDS timely, they commonly furnish a cut-off date by using which all tax proofs have to be submitted. By submitting your lease receipts and different proofs timely, you can make positive no greater TDS is deducted on your income. However, do now not fear if you pass over this deadline. You can declare HRA exemption immediately in your profits tax return.
? Do I want hard-copy of hire receipts or is a tender replica OK ?
Check with your enterprise about the structure in which you have to submit.
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