Rent
This query is : Resolved
21 December 2012
Sir,
In order to save tax i want to show that i pay rent to my father(ownership flat).( Rent amount around Rs.10,000/-pm.)
what requirements are to be fullfilled.
Pl reply me soon as i have to give details to my employer.
Regards
PK Dadnekar
In order to save tax i want to show that i pay rent to my father(ownership flat).( Rent amount around Rs.10,000/-pm.)
what requirements are to be fullfilled.
Pl reply me soon as i have to give details to my employer.
Regards
PK Dadnekar
21 December 2012
IT WILL NOT BE GENUINE TRANSACTION . YOUR FATHER HAVE TO SHOW SAME THING IN INCOME .
21 December 2012
GIVE YOUR EMPLOYER A COPY OF RENT RECEIPT
21 December 2012
It will save tax only if your father have income not exceeding the maximum exemption limit including the rent amount.
21 December 2012
Draw a rent agreement and then tell your father to issue you monthly rent receipts. Then deposit the annual rent receipt together with the agreement with your employer.
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