HRA Rent Receipt
An HRA Rent Receipt PDF is an important document that you can use to keep track of rental payments tenants have made to landlords. A rental receipt serves as proof that the tenant gave his due payment to his landlord as part of his obligation in the rental agreement.
House Rent Receipt PDF can be used by the employee for HRA exemption directly claimed in your income tax return. You can use this calculator to find out the exempt portion of HRA. This exempt amount has to be reduced from your total taxable salary. The net amount is shown as your ‘income from salary’ in your income tax return.
House Rent Receipt – Rule
If an employee receives HRA in excess of Rs. 3000/- per month, it is mandatory to provide a Rent receipt to the employer as evidence for claiming HRA. Even if your HRA is less than Rs. 3000/-, try to keep rent receipts with you in case the Income Tax Officer asks for them at a later date.
- The rent agreement should be on a Rs. 500 stamp or as per the stamp rate prevailing in your state.
- If the annual rent paid exceeds Rs.1,00,000/- it is mandatory to report the PAN of the landlord to claim HRA exemption. If the landlord refuses to give his PAN, then you cannot claim HRA for the rent paid in excess of Rs. 1,00,000/- and your employer will deduct the TDS accordingly.
- It can be entered into for 11 months only.
- For more than 12 months, the rent agreement is not entered into; instead lease deed is to be preferred, which needs registration.
- Every year, the rent agreement is renewed after 11 months with the increased rent.
- Both landlord and tenant are required to serve the notice period as stated in the agreement.
Rent Receipt Format
HRA Rent Exemption Limit
The least of the three amounts is tax-exempt –
- Actual HRA Received
- Rent paid less than 10% of the Salary
- 40% of Salary (50% of Salary in Mumbai, Delhi, Chennai and Kolkata) i.e (Salary= Basic + DA)
You can download the House Rent Receipt PDF using the link given below.
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