Hra above 1 lac
This query is : Open
13 February 2016
if don't have pan no. with my landloard and i paid rent above 1 lac then how can take exemption on full amount.
13 February 2016
you can claim the eligible deduction under 10(13) in your tax return. However, your employer won't provide you any deduction while paying you monthly salary.
13 February 2016
As per para 5.3.9 of circular 20/2015 of Income tax, if annual rent paid by the employee exceeds Rs 1,00,000 per annum, it is mandatory for the employee to report PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employee.
13 February 2016
Dear Rajan,
The said circular applies only to the employers with respect to their TDS compliances. The claim for HRA in the tax return is governed by Income-tax Act and the rules therein as they may apply. But no rule has been made for submission of PAN of landlord for making a claim for HRA deduction in the tax return. If the AO wishes to verify the claim made by the assessee, he can do so during assessment.
The para 5.3.9 itself provides that these are administrative measures. thats it.
The said circular applies only to the employers with respect to their TDS compliances. The claim for HRA in the tax return is governed by Income-tax Act and the rules therein as they may apply. But no rule has been made for submission of PAN of landlord for making a claim for HRA deduction in the tax return. If the AO wishes to verify the claim made by the assessee, he can do so during assessment.
The para 5.3.9 itself provides that these are administrative measures. thats it.
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
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
