I like to know the new New IT rules for HRA. Does it require to submit the PAN no of house owner with receipt?

Question

I like to know the new New IT rules for HRA. Does it require to submit the PAN no of house owner with receipt?

Answer 1

Rule for HRA

First calculate :

1) 50% of salary (Mum/Channai/kol/delhi) or 40% oth.city

2) HRA recd.

3)excess of rent paid over 10% of salary

which ever is lower,you can get your Exempted HRA.

no requirment to submit rent receipt with your income tax return,but reant receipt is to be sumitted to your employer.

Answer 2

With your income tax return, you do not attach any document or even Form 16 or 16A.

About HRA, read Income From Salary at mytaxes.in: http://mytaxes.in/index.php?topic=17.0

Answer 3

step 1 : Calculate 50% of salary if in multi city otherwise 40% of the salary

Step 2: Rent Paid - 10% of the salary

Step 3: Actual HRA Received

whichever is the less, will be exempt from tax and remaining will be taxable

It is not required to submit the pan no. of house owner to the ITO.But yo should give the receipt to your employer