I have following doubts. 1. HRA - Receipt My one of friend paid Rent of Rs. 4000/- P.m Non metro City FY17-18. whether it is mandatory to received receipt against rent paid,or not necessary upto Rs. 5000/- 2. He paid Post life insurance during the Fy17-18 it is also come under 80 C deduction or not?
Ps:- salaried employees drawing house rent allowance upto Rs.3000/- per month will be exempted from production of rent receipt. It may, however, be noted that this concession is only for the purpose of tax-deduction at source, and, in the regular assessment of the employee, the Assessing Officer will be free to make such enquiry as he deems fit for the purpose of satisfying himself that the employee has incurred actual expenditure on payment of rent.
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