What are the Documents Needed for HRA Exemption?
These documents help verify the authenticity of the rent payment and calculate the allowable exemption,- Mandatory for claiming HRA. Should include the tenant’s name, landlord’s name, rent amount, address of the rented property, and duration. Must be signed by the landlord.
- A valid rental or lease agreement is required if rent exceeds Rs. 1,00,000 annually or upon the employer’s request. It acts as supporting evidence to substantiate the rent claim.
- If the rent exceeds Rs. 1,00,000 per annum (Rs. 8,333/month), the landlord’s PAN must be provided to the employer. If the landlord doesn’t have a PAN, they should give a signed declaration.
- Evidence of rent payment, such as bank statements, online transfers, or cheque payments, may be required. Cash payments can be acceptable but are often scrutinised and should be supported with rent receipts.
- Some employers may require a declaration confirming the rent amount and landlord details, especially for lower rent values.
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Below, I have provided the complete list for
documents required for HRA exemption
.
Rent Receipts:You need to submit rent receipts as proof of having paid rent to your landlord. It includes details such as the landlord's name, address, the amount of rent paid, duration for which it is paid, and a revenue stamp.
Rental Agreement:While it is not mandatory, it can strengthen your case. It includes the terms and conditions of the rental, such as the duration of the lease, rent amount, and other relevant terms.
Landlord's PAN Card:The Permanent Account Number (PAN) of the landlord is required if the annual rent paid exceeds a certain limit. It ensures that the landlord is reporting the rental income to the income tax authorities.
Form 12B:If you are claiming HRA from a new employer during the financial year, you are required to submit Form 12B. It includes details of your salary, including HRA, from the previous employer.
Self-Declaration:Some employers may ask for a self-declaration. It states that you are paying rent and you do not own a house in the city where you are claiming HRA.
Additionally, it's important to keep copies of all submitted documents for your own records. These are the
documents required for HRA exemption
.
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How to claim HRA if not mentioned in Form 16?
What Documents are Required for HRA Exemption?
Riya Singh
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2023-12-22T16:54:32+00:00 2023-12-22T16:54:33+00:00Comment
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