Best answer

According to the income tax laws, it is mandatory for the tenant to declare the landlord’s PAN card details, if the annual rent paid is more than Rs 1 lakh or Rs 8,333 per month. Can HRA exemption be claimed for two houses?Yes, you can claim HRA exemptions on two houses, subject to the fulfilment of certain conditions.

People also ask

  • How to claim tax exemption on HRA on a rented house?

  • The best part ! The salaried individuals who live in a rented house can claim tax exemption on HRA under Section 10 (13A) of the Income-Tax Act. An employee has to submit Form 12BB to the employer to claim the exemptions like HRA, LTA etc. and Income Tax deductions under Chapter VI-A.

  • Can I claim HRA and home loan at the same time?

  • According to income tax laws, there are no legal restrictions vis–vis claiming HRA benefits and home loan benefits at the same time. The income tax laws allow you to claim various tax benefits, with respect to the house occupied by the assessee ?whether it is owned by you or taken on rent.

  • How much HRA can I claim?

  • How much HRA can you claim? 1 i) Amount of HRA actually received. 2 ii) Amount of rent paid over 10% of your salary. 3 iii) 50% of your salary in case the accommodation is in the four metro cities, or else, 40% of your salary. For the purpose of HRA claim, salary will …

  • Can HRA be used for rent paid to parents/siblings?

  • The benefit of HRA is not available for rent paid with respect to a residential house that is occupied by any other person, like your parents/siblings, even if they are dependent on you. The HRA benefit is only available with respect to accommodation taken on rent in the city where you generally perform your duties.