Hi.. My house owner not ready to give rent receipt to me and also saying that dont submit agreement copy in office. But is it possible to use only agreement copy to claim HRA exemption? I have paid all rent by online transaction.
RE:having only house agreement is it ok to claim?
by rajeev singhal on Jan 20, 2007 09:36 AM
Yes, it is possible without receipt and the article also say so.
RE:having only house agreement is it ok to claim?
by Ramakanth Nayak on Jan 12, 2007 09:46 AM
If you have piad your rent then your owner cannot decline to give a rent receipt. You can insist for one.
What if the HRA as per my salary slip is less than 40% of my salary and my employer is only allowing me the deduction of the HRA as per my salary slip, Inspite of me paying a higher rent.
Means I pay a higher rent. My HRA is less and I am only allowed to claim the HRA amount as per the salry slip and not what i am actually paying.
It is the responsibility of the earning husband to bear the house-hold expenses and those of wife. If the house is owned by wife, he can pay rent to her and legitimately claim it against HRA. Even the rent paid by a Hindu assessee to his HUF (Hindu Undivided Family) can be claimed against HRA.
RE:House rent Allowance
by on Jan 10, 2007 10:25 AM
Dear sir,
I read yesterday for HRA rebate which was contradictory as per your opinion. I feel that your opinion is correct. Yesterday, article was saying that rent paid to spause is not considered for hra rebate. Can you please clarify that what is correct.
Though this article encourages people to take home loan, we should be very carefull especially if you are planning to buy a flat in Bangalore, Pune, Hyderabad & Chennai. The flat sq ft rates existing in this cities are fake and it is priced atleast 35% more than the actual value. Since the Banks are ready to give home loans excess in of 20 lakhs to software engineers, and software people are somehow finding a way to save income tax, the real estate people fix the rate at very higher prices.
for example a 2 BHK (900 sq ft) semi deluxe flat in Middle Class living Bangalore/Chennai Area should not cost above 16 lakhs. But it is sold at 28 lakhs!!!!. You will be repaying for 5-7 years only for the *fake* amount. Remember, you are not losing 12 lakhs here but 24 lakhs (for 20 year loan with intrest).
Now software people like me have become very cautious and we are not going blindly for home loan. We Understood the IT industry in india has already reached the stagnation phase and we can expect saturation in another 3 -5 years. After that it is going to be diminishing phase. Jobs have already started moving to countries like Brazil, China, Costa Rica, Philipiness, Russia , Romania & Bangladesh because of high wages paid here. Recruitment currently is happening in very slow phase even in Bangalore & chennai. Out of 5 people resigning the company recruits only 3 in India and goes for other 2 in low cost countries as above. It is Ok if we live in a rented house for next 5 years and pay Income tax. The "flat" prices will fall in another 3 years and room rent will also come down drastically. It is time to save money in intelligent way!! for future use (say 2012).
RE:Don't blindly Buy a flat !!!
by uma jai on Jan 10, 2007 07:36 AM
This is a wise thought. Smart decision. It would be good if the IT crowd understands this & act accordingly.
RE:Don't blindly Buy a flat !!!
by on Jan 09, 2007 11:24 PM
Well I for one am sure to echo your view but the entire public is going crazy after purcasing dream flat / home at whatever price the reltors ask . Just like te stock market we are living in a hyped positive spiral and why not go with the tide cautiously than ride against it ?
