A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits. Illustration: Dominic Xavier/Rediff.com Income-tax returns sometimes ...

Tarun Kumar Madaan, a practising chartered accountant, says, "Many taxpayers are unaware that the Income Tax Act permits individuals to claim tax benefits for both House Rent Allowance (HRA ...

1962 requires employee to mandatorily furnish Form 12BB mentioning name, address and details of PAN of landlord where rent paid during the year exceeds Rs 1 lakh as evidence towards HRA claim.

Here’s how to claim HRA correctly during tax filing in order to maximize your tax savings House Rent Allowance (HRA) is deducted by employers from salaries and can be seen in part B of Form 16 ...

The taxpayer has to submit the rent agreement and rent receipts along with Form 12BB to his employer to claim HRA. Rent receipt should contain the tenant’s name, landlord’s name, rent amount ...

The IT Department cross-checks HRA claims through multiple sources, including Form 16, PAN records, and employer filings. Here are some of the key red flags that can attract a tax notice ...

you cannot claim Section 80GG for rent paid. Furnishing of Form 10BA You need to submit Form 10BA to declare that you are not claiming the benefit of HRA and fulfill all the conditions under ...

Income Tax: Among several benefits, one of the main advantages of choosing the old tax regime is that it enables you to claim exemption for house rent allowance (HRA). Under the old tax regime ...

I want to know about HRA claim in filing form 12B in my company. Example: I am paying rent of ₹6,500 x 12 = ₹78,000 yearly and my salary basic is ₹13,740. So as per HRA calculation rule ...

The IT Department cross-checks HRA claims through multiple sources, including Form 16, PAN records, and employer filings. Here are some of the key red flags that can attract a tax notice ...