Rent slip
This query is : Resolved
29 July 2010
Dear all,
If an employee paying rent upto 3000 p.m. than is he required to produce the recipts or not?
If an employee paying rent upto 3000 p.m. than is he required to produce the recipts or not?
29 July 2010
yES, FOR THERE IS NO LIMIT FOR RENT FOR WHICH YOU HAVE TO PROVIDE RENT RECEIPTS.
HENCE RENT RECEIPTS ARE TO PROVIDED FOR ANY AMOUNT.
HENCE RENT RECEIPTS ARE TO PROVIDED FOR ANY AMOUNT.
29 July 2010
Though incurring actual expenditure on payment of rent is a pre-requisite for claiming deduction under section 10(13A), it has been decided as an administrative measure that salaried employees drawing house rent allowance up to Rs. 3,000 per month will be exempted from production of rent receipt. It may, however, be noted that this concession is only for the purpose of tax-deduction at source, and, in the regular assessment of the employee, the Assessing Officer will be free to make such enquiry as he deems fit for the purpose of satisfying himself that the employee has incurred actual expenditure on payment of rent.
Ref : - CBDT Circular No.01/2010 dated January 11,2010
Ref : - CBDT Circular No.01/2010 dated January 11,2010
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29 July 2010
THANKS FOR UPDATE
29 July 2010
Agree with Mr. Warrier.
No need to provide rent receipts for rent upto Rs. 3000/- per month.
No need to provide rent receipts for rent upto Rs. 3000/- per month.
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