Requisites for claiming HRA exemption

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Sai krishna Medikonda (Querist)
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15 December 2008 What are the things to be looked up on rent receipt for claiming HRA exempton?

Is PAN of house owner mandatory on rent payment receipt?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 December 2008 Subject to the satisfaction of the employer.

Ravikumar.G

Ravikumar.G (Expert)
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16 December 2008 Further

Rental Agreement, Rent Receipts which are fair enough.

K V Subba Rao

K V Subba Rao (Expert)
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16 December 2008 At beginning of year, Employer may ask Employee to submit copy of Rental Agreement. If Agreement has not been entered into, the Employee should be required to submit a letter signed by Landlord indicating the monthly amount of rent. In any case full and clear address including Door No, Street No and the like should be insisted. Also insist on PAN copy of Landlord. If he did not obtain PAN, he should make a mention of the same in the Letter.

At fag end of year, require the Employee to produce receipts. These can be seperate or in a consoldiated form.

Finally, you should be in a position to satisfy the Dept, if ever a question arises, that you have taken all reasonable steps to satisfy yourself about genuniness of rent payments claimed by employees

O.D.SHARMA

O.D.SHARMA (Expert)
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16 December 2008 Only stamp paper agreement with PAN & cheque/Cash receipt of land lord.

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