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sonu sonu   14 May 2021

HRA Concern - whether TDS applicable to my Dad

Hi Team,

I work in Pune IT company, due to covid_19 lockdown I came at my native place Hyderabad.

Can I show HRA by showing paying rent to my father?

Also my dad is 64 yrs old, who is getting  around 15000 per month.

If I pay 25000 per month as rent to him, Do he needs to fill ITR?? Plz confirm

I do not want any TDS should get deducted from my dad account from his retired savings. Plz suggest & help.

 

Kindly reply asap.

 

Regards

Sonu



 13 Replies

SUSHANT BIDAYE

SUSHANT BIDAYE   14 May 2021

TDS applicable only for rent above Rs. 50000 per month.

so in your case no TDs for rent payment to your father
sonu sonu

sonu sonu   14 May 2021

But do my father needs to file ITR?

He never filled ITR in his entire life. Is it applicable to him? He gets 15k as pension  amount per month  & 25k as rent.

 

Regards

Sonu

SUSHANT BIDAYE

SUSHANT BIDAYE   14 May 2021

You need calculate his total income. if his income below taxable limit, no need to file.

more details are required .

is he senior citizen,?

also if by making investment , he can bring his income below taxable limit.

no need to file ITR
sonu sonu

sonu sonu   15 May 2021

is he senior citizen,?

YES

veerendar singh

veerendar singh (tax consultant)     15 May 2021

If you stay for a period of more than 6 months at your father's place then your father would have tk file ITR
anil jain

anil jain (Partner)     15 May 2021

Pl clear, for how many months in a year ( Apr to Mar)  you want to pay @ 25000 pm.

sonu sonu

sonu sonu   15 May 2021

Untll lockdown due to covd-19 I will pay rent to parents else I will shift to pune.k

 

Raman Sharma

Raman Sharma   16 May 2021

You should also have a valid rent agreement.. and its good to file return of income by your father as if his pension and rent is included it wont be more than 5 lakhs.. so he will get rebate u/s 87..
anil jain

anil jain (Partner)     17 May 2021

Please see

Pension income under the head Salary 15000 for 12 m    180000 minus Std deduction 50000  becomes130000

Rental income 25000x12    300000 minus std deduction 30 percent being 90000  becomes  210000

Thus total income    340000

exemption limit applicable tp your father is 300000  being sr citizen

In order not to file return, you have 2 option

1. save/deposit more than 40000 in NSC/PPF in father's name

2. reduce rent to 21000 from 25000

CA SUDESH KUMAR GUPTA

CA SUDESH KUMAR GUPTA (Chartered Accountants)     17 May 2021

Hi

 

Calculations done by Mr. Anil Jain is perfect. 

in my view, your father has to file ITR For sure and mention your PAN in ITR Form. 

even the total taxable income as per calculation done by Mr. Jain is 3,40,000/- still there is no tax liabilities upto 5 Lac considering benefit of Sec. 87 A. 

SUSHANT BIDAYE

SUSHANT BIDAYE   17 May 2021

Mr. Gupta, under which provision of law, you are stating that his father has to file return of income, though his income is below taxable limit.
CA SUDESH KUMAR GUPTA

CA SUDESH KUMAR GUPTA (Chartered Accountants)     17 May 2021

Section 139 (1) proviso 6

1 Like
SUSHANT BIDAYE

SUSHANT BIDAYE   17 May 2021

Thanks a lot Mr. Gupta , you are absolutely right.
1 Like

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