![]() In case the accommodation in four metro cities is 50% of your salary and in any other city is 40%.Īll annual income earned by an individual in India more than the allowed or permissible limit is taxable under the income tax law. The self-employed professionals are also availing of the offer of HRA tax deduction under Section 80GG of the law. There are provisions in the Income Tax Department under which House Rent Allowance (HRA) could be claimed by an individual.Īny salaried individuals living in rented accommodation for various reasons can avail of HRA exemption and save tax under Section 10 (13A) of the Income Tax Act. It is very important that any missing information in the rent receipt would make them invalid or null. This rent receipt with a revenue stamp is prepared for those who pay more than Rs.5,000 per month for a house and mention the PAN details of the landlord when the payment exceeds Rs. In order to make a rent receipt valid, it must contain certain details such as the name of the landlord, name of the tenant, address of the occupied property, rent amount, rent period, medium of payment made to the landlord (cash, cheque, online payment), the signature of the tenant, the signature of the landlord, revenue stamp, PAN number of landlord, etc. ![]() But, it is necessary to submit proof of rent receipt, so collect rent receipts from your landlord to claim HRA deductions. Nowadays, rent payment is made through online transactions through credit card or online money transferring mode. To avail of HRA, a rent receipt has to be submitted to Income Tax after it was signed by the receiver (the landlord). One can take a printout of the same as per convenience.įree Template Why is it necessary for rent receipts?Ī valid rent receipt is a document for claiming house rent allowance (HRA), which is legally accepted by the Income Tax Department. The receipts that are generated with the help of this financial tool are as per the format specified by the Income Tax Authorities. ![]() The Rent Receipt Calculator is an easy-to-use financial tool that allows you to create receipts you have paid during the whole financial year. How does the Rent Receipt Generator work? ![]() On our portal, fill in the given column provided in the following details. The landlord and tenant can visit our rent receipt generator facility on, in a simple format. Now you can download the form and take printouts. In this section, the tenant has to provide their details in the given column such as the tenant's full name, tenant e-mail ID, and mobile number of the tenant.Įnter the door no, flat no, name of the premises/building, street or road or lane name, village or area or locality or taluka or sub-division name, state or union territory, town or city or district, pin code, and country name.Įnter the house or building owner's name, PAN number, and mobile number.Īfter filling the column, click the Generate Receipt column given below in blue. tenant details, tenant address, and owner details.
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