14 March 2012
Sir, I am working in Private company in Delhi.
Please clear my point regarding the HRA exemption.
It has been brought to my notice from our Finance department that ; If HRA for the FY 2011-12 will be more than Rs. 15,000/- per month then i have to submit the Landlord PAN number, name & address only submitting Rent receipt will not exsumpt me from HRA.
If HRA is less than Rs.15,000/- per month then i have submit only the rent receipt.
Sir, my query is whether the limit of Rs. 15,000/- per month has been brought by Govt. of India or else our company Finance department are making this as a upper limit for HRA exsumption without owner's PAN number.
Please reply as soon as possible otherwise they will deduct the tax from my current month salary.
Please contact me at sumeet.malik@wspgroup.in or call me at 09711603767 011-46014616 am from new delhi. thanks, Sumeet Malik
14 March 2012
Dear Friend, According to provisions of Section 194I of the Income Tax Act,1961 TDS should be deducted in case of Rent Payment for more that Rs. 180000/-p.a. Now in your case if excess of Rs. 15000/- has been paid during the year then TDS should be deducted. But you are an individual and not covered under provisions of Section 44AD then you should only submit the rent receipts and PAN No. of your owner. Thanks
By submiting the Rent receipt only will not be sufficient even if I Pay monthly rent more than Rs. 15000/-. Because landlord dont give their PAN no. , they are saying we can only sign the Rent receipt only and no other document they will give to me.
Please reply...
Thanks & Regards, Sumeet Malik +91-9711603767 !! Sir, can you give me ur email id in case for any future need !!
CAclubindia
