I am living with my father (Senior Citizen) in a 10 marla house with my wife and kids. The house is 50%:50% owned by myself and my father in documents however in reality i am using 90%. My HRA is approx. Rs.17000 per month and i am paying full tax on this amount (claiming no HRA exemption thru rent paid currently). Kindly confirm if I could pay rent to my father and take benefit of HRA in tax calculation. Rent will be added in his income for his tax calculation. Alternatively, is it possible that I get HRA head removed from my salary and distribute the amount in basic and EPF. Thus my taxable income will be lower and i could take tax benefit.
My self and my wife are working and staying with my parents. When it comes to HRA, is it okay if we both produce the rent receipt to our respective working companies?
DAER,I am 30YRS Old MALE doing job in a shop. I have get Fix salary One Lack Fourty Thousand Rupees only IN 2007-08 by Cheque, I Have PAID HOUSE RENT 36000Rs In WHOLE YRS, LIC Having of 15500Rs.
Shop owner accountent tell me there is no need of paying any Tax. BUT one of friend told me today that I should paid tax BECAUSE my shopowner is not giving me Any Type OF HRA.
Re: HRA
by GUNGUN on May 16, 2011 01:36 PM
I would like to tell you that you are not coming under tax slabs. The amount which is less than 180000 is exampted from TAX So dont worry. No TAx will deducted from your slaray. Cheers
I am employed in a company located at Ghansoli, Navi Mumbai. I have taken a flat in Kharghar, Navi Mumbai. I will get possession of flat in July 2008. Right now I am staying in Kandivali (East) in a rented accomodation. I would not be able to shift to Kharghar till April 2009 as my daughter is in the midst of ICSE 10th Standard and I don't want to disturb her.
Kindly advise whether for financial year 2008-2009, I can claim benefit under
• Tax benefit on principal repayment under Section 80C as deduction of income
• Tax benefit on interest payment under Section 24. Under the head of house property
• HRA benefit under section 10(13)under the head of salaries
My rent agreement is made in the name of myself and my husband (as required by our landlord). We are paying rent from a joint savings account. Can one of us claim the entire rent towards HRA exemption while the other doesnot claim anything, or w would have to claim 50% rent each (both of us are working). And what sort of documentary proof we would need to give to this effect to the employer (whether an undertaking by the one claiming exemption to the effect that his/her spouse is not claiming HRA exemption would be sufficient).
Re: HRA exemption on joint rent agreements in husband and wife's
by GUNGUN on May 16, 2011 01:40 PM
Only the person whose name is mentioned on the rent agreemnet , would be eligible to get tha tax rebate. both husband wife cant take its benefits as they both are living together. Cheers Sunita Sandhu
Re: Re: HRA exemption on joint rent agreements in husband and wif
by Manish Gupta on Dec 13, 2013 03:24 PM
this is wrong.. both can claim the tax rebate (50% each), if name of both husband and wife is there in rent agreement.
I am working with NHPC Limited, a Public Sector Undertaking, at Faridabad. The company allotted me a flat in its residential colony but due to personal reasons I could not take the possession and later on company cancelled the quarter allotted to me. Presently no HRA or lease is provided to me. But I am staying at a rented house and pay the owner a rent of Rs. 5000/- per month. Can I claim the HRA benefit though no HRA is provided to me by the company. Pls Guide....
Have left the company but forgot to claim HRA rebate, although same is reflectling in my salary slip and the full amount has been taxed. Can I claim it in my Tax return??
I badly need advise on calculation of my HRA. Below are the components of my salary besides my PF and PT. Please advise which components should I consider for the computation of HRA.
BASIC HRA CONVEYANCE ALLOWANCE MOBILE ALLOWANCE GRADE ALLOWANCE SPECIAL ALLOWANCE LOCAL CONVEYANCE OTHER
HARDSHIP ALLOWANCE I know about the 3 points for computing HRA. HRA is exempt to the extent of the least of the following:
1) The actual amount of HRA received. 2) 40% of salary (basic component dearness allowance). This increases to 50% if you are renting out the house in Delhi, Mumbai, Chennai or Kolkata.
3) Rent paid minus 10% of Salary (basic component dearness allowance)
Since I have no dearness allowance as listed in my salary breakup and I live in Mumbai, I want to know that from the remaining components which should I consider for the computation of HRA.
Re: Components of salary slip considered for calculating HRA in I
by GUNGUN on May 16, 2011 01:45 PM
These are only three point which need to be in consideration to calculate HRA; 1 The actual amount of HRA received. 2) 40% of basic salary (if you are in non metro city). This increases to 50% if you are in metro city. 3-Rent paid minus 10% of basic Salary which so ever is minimum will consider for tax rebate. Cheers Sunita Sandhu
Presently I am staying in a leased acco provided by the co. I buy a ready flat and move and start claiming HRA from my Co. I understand my HRA would be taxable. However I can claim tax benefit on interest principal payout to the extend permissible. I want to know the if any perquisitive tax would be applicable towards my flat.
I pay house rent to my parents of Rs 6000/- p.m. Do i have to furnish details or proof as i dont have a contract or anything. I pay rent via cheque so it reflects on my parents name in the statements on his name. Is it necessary to show proof of house rent paid to parents while funishing details to my office accountant? and if yes would the bank statements do? Please reply it is urgent! ThankS
RE:HRA
by Rajalakshmi on Jul 31, 2007 04:30 PM
In this case you must treat your parents as any other landlord. You may need to show a rental agreement [if agreement is more than 11 months it should be in a stamp paper else stamp paper not necessary] and also submit rent receipts for each of the months from your parents as landlords. It is immaterial if u r paying thro' cheq or cash.
RE:HRA
by Lakshman Ganglani on Feb 12, 2008 05:10 PM
Is it mandatory to have an agreement on stamp paper if rent paid to parents. If YES, is there any other alternative.
Re: HRA
by gana on Feb 23, 2011 11:48 AM
you complsory attached the proof reason you pay father other purpose of payment so that amount what kind of rent assumention
