HRA

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2009 i m staying with my parents ..house is own by my father..i m getting HRA ..in order to claim this can i make rent agreement with my father ..so that i can show that i m paying rent..if yes plz specify the provision

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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17 November 2009 Allmost its defficelt.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2009 Not a fair practice.

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chetan soni

chetan soni (Expert)
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17 November 2009 I agree with experts. But this is kind of tax planning. To execute this you need to follow the following:

01. Make the agreement between you & your father as you said. After that notarised the same.
02. Pay the rent amount every month to your father, perfer pay chq.
03. Also take a due care that your father should show this amount in his individual income tax return.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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17 November 2009 agree

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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18 November 2009 Fully agree with Chetan.Please pay reasonable amount as rent to use this tax planning tool. Don't claim an excessive amount as rent paid.