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Rental income urgnt rply

Akhil (Student CA )     04 August 2020

Student CA  
 46 likes  805 points

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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)

Sagar Patel

Sagar Patel (Tax and Business Consultant)     04 August 2020

Sagar Patel
Tax and Business Consultant 
 998 likes  11156 points

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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.

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Raj C Doshi

Raj C Doshi (Practising CA)     04 August 2020

Raj C Doshi
Practising CA 
 291 likes  4141 points

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Agree with Sagar ji.

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