How to submit rent receipt for taxes?

House rent allowances are specified in pay packages for salaried personnel. For that, rent receipts are essential so that you can claim deductions when filing your income tax returns. By doing so, you can save a significant sum of money by claiming the HRA exemption. If you have generated a rent receipt, you must know how to submit rent receipt for taxes. You can submit Form 12BB for the same to your employer.

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How to Submit House Rent Receipt for Taxes?

To claim HRA benefits, you can provide your employer with a statement of your house rent receipts on Form 12BB. You can also follow the below process for the same.

• Gather all rent receipts for the period you want to claim the House Rent Allowance (HRA) exemption. Ensure they are signed by your landlord.

• Submit the rent receipts to your employer's HR department.

• Keep copies of all submitted rent receipts for your records. You may need to provide them if the Income Tax Department requests proof of rent payment.

• If your employer does not handle HRA exemptions, you can claim it directly while filing your income tax return.

• If the rent is paid in cash and exceeds INR 5,000 per month, ensure the rent receipt has a revenue stamp affixed.

You can use the NoBroker Receipt Generator (below link) to generate it easily. I hope you understand how to submit rent receipts for taxes online.

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To claim rent it is important to provide your rent receipts to the employer as proof that you have spent your time here. After checking the rent receipt, the employer can deduct allowances. So, based on the rent receipt the HRA allowances are calculated. So, before telling you how to submit rent receipt for taxes, we should learn what a rent receipt is.

A rent receipt is a piece of document that the landlord provides upon receiving the rent from the tenant and signs it. You should always keep the rent receipt with you to provide them as proof. It can be used for filing taxes and in legal matters as well. 

What are the details required in rent receipts? 

1. Tenant Name (If you are the tenant, fill in your name)

2. Landlord Name.

3. Amount of Payment.

4. Date of Payment.

5. Rental Period.

6. House Address (Rented Property)

7. Signature of Landlord or Manager.

How to submit house rent receipt for taxes?

1. Enter the amount paid in the rent receipt with the address.

2. Enter the details of yourself and the landlord.

3. Choose the period for which you generate your rent receipt. (Monthly, Quarterly, Annually).

There are many tools to generate the rent receipt. You can simply provide the bill generated while paying your monthly rent digitally along with the ID proof of your landlord, or you can generate rental receipts from NoBroker as well. 

I hope you know how to submit rent receipt for taxes now.

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