As I m working as payoll consultant in a software firm, I want to know, is it require to paste revenue stamp on Rent receipt to claim exemption under HRA. Wat is tha basic limit that i can porvide to employee to avail HRA benefit even if they are residing in their own house or PG?
13 Replies
Indrajit Mondal
(Service)
(142 Points)
Replied 07 January 2009
Revenue only required if the amount reached or crossed Rs.5,000/-
in case Rent amount is less than Rs.3,000/- then receipt or aggreement is not madatory
the HRA is calculating 50% of Basic Salary+DA
INDRA
R.Suresh
(Sr. Executive)
(394 Points)
Replied 07 January 2009
Employees residing in rental house or PG are eligible to claim HRA, residing in own house not eligible to claim.
CA CS CIMA Prakash Somani
(Landmark Group)
(23502 Points)
Replied 07 January 2009
The following is the exemption limit for HRA, (whichever is less):
1. Actual HRA received
2. 40%/50% (Mumbai, delhi, kolkata, chennai) of salary*
3. Rent paid- 10% of salary*
(*salary means= Basic+DA (as per terms)+Comm on turnover)
Generally it is necessary to post revenue stamp on Rent receipt and don' bother it wont cost much.
Atul Kumar
(CA)
(504 Points)
Replied 13 January 2009
HRA is given to only those who are residing in rented premises whether residential or PG doesn't matter.
Revenue Stamp for paayment exceeding Rs. 5000.
HRA Calculation :
Lowest of the three :-
1) HRA Received
2) Rent Paid - 10% of Basic + D.A.
3) 50% of Basic + D.A. in case residing in 4 Metros otherwise 40%
seema
(Associate Accounts Consultant)
(122 Points)
Replied 14 January 2009
Is there ruling for revenue stamping for the mentioned limit??????
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 14 January 2009
As u must be knowing that for every payment made above Rs. 5000 in cash u must paste a revenue stamp on the voucher....so same in applicable in case of rent receipts as well
seema
(Associate Accounts Consultant)
(122 Points)
Replied 14 January 2009
what is the limitation for taking rent receipt? as i don't take rent receipt below 3000/- yet. can it exceed?????? Plz help urgently
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 14 January 2009
Limitation in what regard????......please clerify ur question
PRANAV MISHRA
(CA Final student)
(573 Points)
Replied 14 January 2009
IT IS a WRONG PRACTICE OF NOT TAKING A RECEIPT BELOW SOME AMOUNT.
maha rudra
(ACCOUNTS OFFICER/DRAWING & DISBURSING OFFICER)
(22 Points)
Replied 27 July 2010
please provide proforma of rent receipt to consider for exemption
maha rudra
(ACCOUNTS OFFICER/DRAWING & DISBURSING OFFICER)
(22 Points)
Replied 27 July 2010
I am working as Accounts officer in sports authority of india, Pl provide a proforma of rent receipt to enable me to obtain from my employees for exemption of I.tax.
Maharudra,Accounts Officer, SAI, Gandhinagar
Shudhanshu Agrawal
(Business)
(2570 Points)
Replied 27 July 2010
| Originally posted by : maha rudra | ||
 |
I am working as Accounts officer in sports authority of india, Pl provide a proforma of rent receipt to enable me to obtain from my employees for exemption of I.tax. Maharudra,Accounts Officer, SAI, Gandhinagar |
 |
Go to stationery shop and ask them to provide you rant receipt pad. They will give you the rent receipt.
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
