Is there a risk to giving pan to tenant
Samuel (manager) (40 Points)
05 August 2015Samuel (manager) (40 Points)
05 August 2015
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 06 August 2015
May be you can get an affidavit made jointly where he too signs and confirms the annual rent paid to you officially.
Sathish M
(Management Accountant)
(40581 Points)
Replied 06 August 2015
Samuel
(manager)
(40 Points)
Replied 06 August 2015
Thanks for your response. I agree that bonafide way, I can always make a clarification to IT authorities, but that means lot of hassels.
As I understand , providing pan is only required for tenant to show it to his emploer. Income tax authorities do not require PAN of landlord at the tme of filing ITR, so , cant the tenant make a refund claim at the time of ITR filing in case he does not get a benefit of HRA currently from employer?
I am just trying to see if there is any way , I wont have to give PAN to tenant becuase of the risks highlighted. I am anyway adding rental income to my return.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 06 August 2015
Yes, the employee tenant can claim HRA deduction in his/her ITR but he/she will suffer excess tax deduction at source for non intimation of PAN to the employer thereby putting financial hardship.
But, that time is not too far when punching of PAN will be mandatory in the ITR of the tenant going by the way Dept is moving, by digitisation, towards combating of tax evasion and avoidance and contain revenue leakage.
Regards,