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Paying rent but not receiving HRA? Here’s how non-salaried individuals can claim tax deductionSelf-employed individuals and salaried employees not receiving House Rent Allowance (HRA) can claim tax benefits for rent paid under Sectio...- ‘Stop performing poverty’: Gurgaon-based CEO shares how a Bengaluru founder pays himself Rs 50,000 despite having Rs 5 cr in the bankStartup founders often face pressure to be extremely frugal. However, venture capital CEO Aditya Arora believes underpaying oneself can be ...
- Husband takes Rs 25.06 lakh loan in wife’s name, runs off with car, jewellery & then seeks maintenance; HC slaps Rs 15 lakh cost on him for false affidavitA husband took Rs 25.6 lakh personal loans in his wife's name, spent the money on a lavish lifestyle, and fled with her car and jewellery. ...
- Can your HRA tax exemption claim get rejected despite submitting all proofs?Salaried individuals claiming HRA tax exemption should ensure accuracy and compliance, as discrepancies can lead to rejection. Tax officers...
- HRA tax exemption: Five things to know about rent paid to spouseThe rent received is taxable, but not all of it. There is a 30% standard deduction on rental income. If the spouse gets Rs 6 lakh per year ...
- Claiming HRA exemption on rent paid to spouse? New I-T regime will end this game of truth or dare.In end June, the Income-tax Appellate Tribunal (ITAT), which is the final ‘fact-finding’ authority when it comes to tax disputes, held that...
- Which gifts are taxable for the recipient and which ones can increase tax liability of giverIt is essential for you to evaluate the transactions to check if it falls under taxable scenarios. If the answer is yes, you should volunta...
- Can I claim HRA tax exemption for rent paid to spouse while filing ITR?You can certainly claim the rent paid to your wife as an expense for the part of the premises used for your business or profession but gene...
- Your parents, wife and children can help you save taxes. Here's howSalaried individuals can save tax by paying rent to their parents and availing the HRA exemption benefit.
- ITAT refuses to rectify its earlier order that disallowed house rent allowanceITAT stated that the onus to prove genuineness of rent paid to a relative lies with the taxpayer, the extent to which HRA can be claimed ex...
- Not eligible for HRA? Here's how you can claim tax deduction on rent paidSection 80GG of the Income Tax Act allows claiming of tax deduction for the house rent paid for a self-employed or salaried person who has ...
- How to claim tax exemption on HRA without landlord's PANAs per the Rule 26C of the Income Tax Act, employee needs to fill and submit Form 12BB to one's employer, by mentioning the property owner'...
- Can you claim HRA tax exemption for rent paid to spouse? Here's what experts sayA taxpayer is entitled to claim HRA exemption for rent paid to his or her spouse provided there is documentation to prove that the arrangem...
- Will Budget 2018 bring tax relief on rent for self employed on par with HRA exemption?Section 80GG allows self-employed paying rent for the house to lower their tax outgo. However, in comparison to the HRA exemption tax benef...
- For tax relief, you need proof of rent paid to kinAs per the I-T Act, a salaried taxpayer can claim exemption on HRA, if the property is not owned by him and actual rent has been paid.
- Frequently asked questions on tax savingSection 80E of the I-T Act allows an individual to claim the entire interest paid on an education loan as a deduction from gross total inco...
- How dividing rent between spouses can multiply tax gainsIf both you and your spouse are eligible for HRA as part of your salaries, it may work out better if you split the claim.
- How to claim tax exemption on your HRAHRA (House Rent Allowance) forms a crucial component of your income. You can claim tax exemption on your HRA, subject to certain conditions.
- Show ’em evidence and they will give you rebateRecords needs to be maintained for each deduction you claim in your tax returns.
- Computing tax exempt portion of your HRAThe exemption applicable to house rent allowance (HRA) is covered under Section 10 (13A) of the Income-Tax Act. Normally, it is a part of t...
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