Monday, May 12, 2014

Get landlords PAN details on plain paper for HRA claim

Salaried taxpayers, who want to claim I-T exemption on house rent allowance exceeding Rs one lakh per annum, will have to obtain the PAN card number and other details of their landlord on a plain A-4 size paper before submitting it to their employer.

The circular has not stated explicitly about the kind of document so it is considered that a plain piece of paper would do," a senior department officer said. The Income Tax department will require this document to enable exemption for a taxpayer under House Rent Allowance (HRA) after the Central Board of Direct Taxes (CBDT) issued a ciruclar in this regard in October last year.
 Reference: economictimes.com

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