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Rental income urgnt rply

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Akhil

Student CA

1005 Points Posted on 04 August 2020

Am rcvng rental income 20,000p.m and the tenant is the employee and this employee is claiming HRA exemption by submitting rental deed to his employer
now the question is am rcvng only this 20,000 p.m .So,2.4lac p.a.... should i need to file i.t return (am getting this doubt coz as my tenant is giving my pan details to employer)

Replies (2)

Quick Summary

If your total income, including rental earnings of £20,000 per month (£2.4 lakh per annum), exceeds the basic exemption limit of £2,50,000, you are required to file an income tax return. However, if this rental income is your sole source of earnings and does not surpass the threshold, filing may not be necessary.

Sagar Patel

Tax and Business Consultant

11616 Points Posted on 04 August 2020

If your total income ( including rent income, other income if any like interest ect.) is exceed the basic exemption limit of Rs. 2,50,000 than you are required to file your return.
but if you have no other income except this 2,40,000 rent income than you are not required to file IT return.