Writick Garodia (Employed) (42 Points)
16 February 2016Hi,
We are collecting proofs for the Investment declaration made for TDS on salaries.
Do we have to collect the rental agreement for the same or just the rent receipts are fine.
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 16 February 2016
House Rent Allowance (HRA)
Case 1. Where monthly HRA <= INR 3,000
If your monthly HRA defined as is less than or equal to INR 3,000, there is no need to submit any documents for the rent paid.
Case 2: Where HRA> INR 3,000 & Rent <= INR 8,333
If your monthly HRA defined is greater than INR 3,000 and your monthly rent payments are less than or equal to INR 8,333/-, you would need to submit the following documents:
• Original rent receipt for any one month.
• A copy of Lease Agreement. In absence of lease agreement, rent receipt should contain the Cheque / EFT details and additional supporting document like bank statement extract/payment screenshot to be provided.
Case 3: Where HRA> INR 3,000 & Rent > INR 8,333
If your monthly HRA as defined is greater than INR 3,000/- and your monthly rent payments are greater than INR 8,333/-, you would need to submit the following documents:
• Original rent receipt for any one month.
• A copy of Lease Agreement. In absence of lease agreement, rent receipt should contain the Cheque/EFT details and additional supporting document like bank statement extract/payment screenshot to be provided.
• PAN of the Landlord (or) the Declaration from Landlord if he/she does not have a PAN along with proof of residence of Landlord.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
