20 November 2014
experts, I m earning 33000 pm and I am living with my parents. I want to claim rent expense from my income. can I pay notional rent to my parents..?if yes,then how?
21 November 2014
Check on whose name the house is.Pay to the owner though he may be your father or mother.It should be taxable in their hands.If he/she is not the owner, the income received by them from you will be taxed under Income from other sources.Any way you should be able to produce the Rent Receipt.
CAclubindia
