HRA exemption glitch in ITR utility: What salaried taxpayers must do
HRA exemption glitch in ITR utility: What salaried taxpayers must do
Tag: HRA
New ITR Utility: Is landlord’s PAN card needed for claiming HRA while filing income tax return?
Every salaried employee who has an HRA component in salary and who wants to claim house rent allowance (HRA) income tax benefits need to submit the PAN number of the landlord if the annual rent is above Rs 1 lakh. Failing to submit the landlord’s PAN to your employer for claiming rent HRA tax exemption, will result in losing the tax exemption.
I am paying monthly rent more than Rs 50,000. Should I deduct TDS monthly or once yearly?
I am paying a monthly house rent of more than Rs 50,000. As per Section 194-IB of the Income Tax Act, I understand that TDS is applicable. Should I deduct and deposit TDS every month, or can it be done once at the end of the financial year in a single payment?
Tax dept tightens claims scrutiny: Key rules for rent paid to parents
Many salaried individuals claim tax exemption on house rent allowance (HRA) by paying rent to family members, such as parents. While this is legally permissible, the Income Tax Department has intensified scrutiny of such claims.
Can you claim HRA tax exemption for society maintenance charges?
Many salaried employees in India reside in housing societies where they often face the dual financial burden of paying rent to their landlords and maintenance charges to the society. This situation raises a pertinent question- can these maintenance charges be claimed for tax exemption under the House Rent Allowance (HRA) provisions?
Income Tax dept sends notices for HRA claims without TDS deductions. Here’s what you can do
The Income Tax Department is now reportedly sending notices to salaried taxpayers who have claimed House Rent Allowance (HRA), but did not deduct tax at source (TDS) on rent payments in the past financial years.
Beware! Here’s how income tax department can catch you
January is very important for salaried people in India. In this month, companies ask for investment proof from their employees.…
HRA Exemption In Metro Cities: EY Urges FM Nirmala Sitharaman To Make THIS Change
HRA exemption news: In its pre-Budget 2024 recommendations, Ernst and Young (EY) has urged Finance Minister Nirmala Sitharaman to expand…