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
Can I claim HRA If I do not pay rent?
From the above rules it becomes clear that you are not entitled to claim HRA exemption, if the rent paid does not exceed 10% of the salary. Moreover, you will not be entitled to claim the HRA benefit for the period for which you have not paid any rent.
Can I claim HRA exemptions on two houses?
Yes, you can claim HRA exemptions on two houses, subject to the fulfilment of certain conditions.
Is rent paid to a spouse eligible for HRA deduction?
Rent paid to a spouse is not eligible for HRA deduction. If the annual rent paid exceeds 鈧?,00,000, then the landlord’s PAN will be required to claim HRA exemption. If they do not have a PAN, a signed declaration will be required.
What is the HRA for rented house?
HRA is covered under Section 10 (13A) of Income Tax Act 1961. Salaried Employees who live in a Rented house can claim HRA to lower their taxes ?partially or wholly.