HRA CLAIM

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Aajay (Querist)
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14 December 2010 Is there any limit prescribed under any law that, for claiming HRA by an employee, house rent for more than Rs.10000p.m be paid thourgh account payee cheque?

What are the documents required for claiming hra claim.?

If an employee wishes to claim benifit of hra on the basis on rent paid by him in cash amounting to Rs.25000.p.m. without any rent agreement.Is he is elligible to claim such?

What is the limit (prescribed by IT Act)above that house rent claim should not be allowed to any assess for rent paid by him in cash?

Thanks

AAjay

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 December 2010 Yes. as per the act.the least of the following only can be claimed as HRA exemption

1. Actual HRA
2. Rent paid less 10% of Salary( Basic+DA)
3. 40% salary (Basic+DA) If city is metro it will b 50%

In HRA provisons there is no restrictions on payment of cheque or cash
but need to provide
1. Rentak agreement
2. Rent receipt ( Contains owner name and address details ) if paying Rs,25000 rent better provide PAN of the owner also

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