Rental Agreement for HRA Exemption

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This discussion clarifies that a rent receipt is sufficient for claiming House Rent Allowance (HRA) exemption, making a formal rental agreement unnecessary for tax purposes. It also outlines the tax exemption limits for housing property interest in FY 2020-21, stating a £200,000 limit for self-occupied properties and no limit for let-out properties.

Ratheesh

Ratheesh (Querist)
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16 December 2020 Hi Sir,

Rental Agreement copy is mandatory for getting HRA Exemption ?

If one is submit only Rent Receipt, then can we consider for the same for Tax Calculation ?

Please clarify......

Thank you

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 December 2020 Yes, rental receipt is enough.

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Ratheesh

Ratheesh (Querist)
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23 December 2020 Thank you Sir,

Please clarify my below doubt also

What is the maximum Exemption limit for Interest on Housing Property if property is Self Occupied and Let out Property in FY 2020-21.

Thanks & Regards
Ratheesh

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 December 2020 2 lacs is the limit for self occupied property. No limit for let out property.

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Ratheesh

Ratheesh (Querist)
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22 January 2021 Hi Sir,

Need one urgent help

One employee Income from House Property is Rs. 216570 (After all calculation)
Housing Loan Interest of that property is Rs. 445581

So my question is what is the net amount

Rs. 445581- Rs. 216570= Rs. 216570 (Rs. 200000 Loss from House property)

OR

RS. 200000 - Rs.216570= Rs 16570 (Income)

Please help me

Regards
Ratheesh

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