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How to claim hra if we stayed in lease house

Tax queries 5040 views 8 replies

Karthik Kumar N

Asst Manager Finance & Accounts

81 Points Posted on 30 December 2017

Dear Expert

Kindly advice if we take home on leased base for 3 years by paying lumsum amount,in this can we claim HRA deduction?

How shll we give rent receipt for particular year

Rgds

Karthik

Replies (8)

sanjith kotni

Articled assistant

663 Points Posted on 30 December 2017

no need of rent receipt agreement is enough for claiming and rent payment confirmation for the year is enough

sanjith kotni

Articled assistant

663 Points Posted on 30 December 2017

calculation rent paid in excess of 10% of salary or 40% of salary,or HRA received which ever is lower is exempted .so you should have supporting for rent paid that can be agreement or bank payment confirmation in statement of your bank.

sanjith kotni

Articled assistant

663 Points Posted on 30 December 2017

ask the receipt by splitting the rent for 3 years proportionate ly

sanjith kotni

Articled assistant

663 Points Posted on 30 December 2017

if you have own house in the location of your employment then no exemption is available

Karthik Kumar N

Asst Manager Finance & Accounts

81 Points Posted on 31 December 2017

Ok ...thanks Mr Sanjit for u r prompt reply....

sanjith kotni

Articled assistant

663 Points Posted on 31 December 2017

welcome karhik Kumar ji

sanjith kotni

Articled assistant

663 Points Posted on 31 December 2017

Sorry Karthik

Kasim Khan

2 Points Posted on 31 May 2019

Hi Sanjith,

Could you advise more on this For ex. if lease amount is 5 Lakhs for 2 years, should I request for receipt of 2.5L/year and submit the same under HRA exemption?

Looking forward for a quick reply.

Thanks,

Kasim