HRA
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 February 2011
Me & My hubby both are working in the same private company in Bangalore. We are sharing HRA 20000 & 10000. IS it compulsory to submit pan of owner? our owner is not ready to give pan no. shall we need to submit rent aggrement? All these are compulsory as per income tax department of India?
17 February 2011
Beyond a certain limit, companies do insist on more evidence for rent payment, beyond the mere rent receipts.
The IT circular has bestowed the liability on the salary disbursement officer to ensure that he/she is allowing any IT benefits to any employee on the basis of legitimate proofs. So, its on the understanding & practice of the company, they need to safeguard themselves against any IT notice, as any point of time they need to explain & justify any deductions that are allowed to any employee.
So these PAN or rent agreements are part of these safeguards & appropriately justified.
The IT circular has bestowed the liability on the salary disbursement officer to ensure that he/she is allowing any IT benefits to any employee on the basis of legitimate proofs. So, its on the understanding & practice of the company, they need to safeguard themselves against any IT notice, as any point of time they need to explain & justify any deductions that are allowed to any employee.
So these PAN or rent agreements are part of these safeguards & appropriately justified.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- TDR receipts for agreement holder
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Intimation wrongly states taxpayer has offerred u/s. 44ad & states probable resolutiton to do audit
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
CAclubindia
