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Generate Rent Receipt Online

Get Hassle Free House Rent Receipt Online for Income Tax Declaration
Step 1 of 2
Enter rent details
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How it works

It only takes 30 seconds to generate rent receipt

1
Provide the name of the tenant and the rent amount
2
Provide the name of your landlord, address, PAN details (optional) and rent period
3
Check preview and download, it’s done! 👍
EXTRAS
Key points to remember
  • ●   In case you pay the rent through net-banking or other online channels, your payment history would also act as a proof of the payment. Even then, creation and submission of rent receipts is necessary.

  • ●   The tenant will have to share the rent receipts with his employer in order to claim HRA exemption if he pays a monthly rent exceeding Rs 3,000.

  • ●   You don't have to submit rent receipts for each month. It could be on a quarterly, half-yearly or an annual basis. However, receipts for all the months, for which you are claiming HRA, must be submitted.

  • ●   You will have to affix a revenue stamp on the rent receipt if the cash payment is more than Rs 5,000 per receipt. In case the payment has been made through a cheque, the revenue stamp is not required.

  • ●   You may have to provide a copy of your landlord's PAN in case the yearly rent exceeds Rs 1 lakh or Rs 8,300 monthly, aside from mentioning the number in the rent receipt. In case you fail to do so, you will not be able to claim HRA. Consequently, your employer will be bound to deduct TDS according to your tax bracket.

  • ●   For the purpose of HRA claim, salary will include your basic salary and dearness allowance only.

  • ●   Be advised that the tax exemption is calculated on the basis of the amount mentioned in the rent receipt, even if your employment pays you a higher payment towards HRA.

  • ●   Any misinformation and missing information in the rent receipt would amount to it becoming null and void.
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Significance of rent receipts

Those earning an income in India, salaried individuals as well as business professionals, are liable to pay taxes on their annual income under the income tax law. However, the same law also allows them a variety of deductions against the expenses made towards specific instruments. Those who spend a substantial part of their annual income in rent payments are also qualified to claim deductions against the annual payment under various sections of the tax law. However, to claim the deductions, the tenant in question will have to prove a proof of making these payments. That is when the need to produce house rent receipt or a rent slip arises. Unless you provide the rent receipts for income tax to your HR department at the time of investment proof submission, a substantial chunk of your salary might get deducted in taxes.



What is a house rent receipt?


A house rent receipt acts as a documentary record of your rent payment. A proof that the tenant has paid the rent, the rent receipt is provided by the landlord after collecting the rent. Rent receipt for income tax helps you claim tax benefits. The rent receipt will also act as a legal proof of the rent payment in case of a dispute between the two parties.



Why do you need rent receipts?


To claim house rent allowance (HRA), the HR department in your office will ask you to submit house rent receipts to your employer before the end of the financial year. Rent receipt for income tax deductions is important. Since most transactions take place online these days, you might be paying your rent through credit card or other online money transfer channels. In any case, you have to collect rent receipts from your landlord to claim HRA deductions.



Components of rent receipt


Rents receipts must carry the details as under:

  • -Name of the tenant
  • -Name of the landlord
  • -Address of the property
  • -Rent amount
  • -Rent period
  • -Medium of payment (cash, cheque, online payment)
  • -Signature of tenant
  • -Signature of landlord
  • -Revenue stamp*
  • -PAN of landlord**


Note: *Rent receipt with revenue stamp in cases where the cash payment is more than Rs 5,000 per house rent receipt.

**You will also have to mention the PAN details of your landlord if your annual rent payment exceeds Rs 1 lakh or Rs 8,300 monthly. It is also important to note here that any missing information in the rent receipt would make them null and void.

Tax benefits

Income tax provisions under which HRA could be claimed


Those living in rented accommodations can avail of HRA exemption to save tax under Section 10 (13A) of the Income-Tax Act, if they are salaried individuals. Self-employed professionals are offered HRA tax deduction under Section 80GG of the law.


Extent of tax benefit


Rule 2A of Income-Tax Act, 1962, prescribes the limits up to which you can claim HRA benefits. The limit is the least of the following amounts:
*The amount of HRA actually received
*The amount of rent paid over 10% of your salary
*50% of your salary, in case the accommodation is in four metro cities; 40% of your salary if the rented accommodation in any other city

Steps to generate free rent receipt

Using the rent receipt generator facility on Housing.com’s Housing Edge platform, tenants can generate online house rent receipts for free, by following these simple rent receipt format steps:


Step 1: On the Housing Edge portal, click on the rent receipt generator tab. As per the rent receipt format, the first page that appears will ask you to provide the name of the tenant and the rent amount. Hit the 'continue' button to proceed.


Step 2: Now, provide the name of your landlord, the full address of the rented property, and the landlord's PAN details (optional). Hit the 'continue' button to proceed.


Step 3: Fill in the period for which the house rent receipts have to be generated. Hit the 'continue' button to proceed.


Step 4: The next page will give you the preview of the house rent receipt. After making sure that every detail in the preview is correct, you could hit the 'print' button to get copies of the rent receipts on the final screen. You can also download the PDF of the rent receipt on your device.

Depending on the policy your employer follows, you could submit the hard copies of the rent receipts after signing it yourself along with the signature of your landlord. You can also submit them in PDF format after completing this formality involving the signatures, in case your employer allows.

FAQ
Some questions asked

Is paying rent online a must to create an online house rent receipt?

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You can pay the rent through any medium, including cash payments and generate rent receipts online.

Is a valid leave and licence agreement must to claim HRA deductions?

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The law does not state that there should be a valid leave and licence agreement in place, for claiming the HRA benefits.

What proof do I have to provide to claim HRA?

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Rent slip, which mention details, including tenant/landlord details, address of the property, rent amount, payment schedule, signatures of the parties and the medium of transaction, act as the proof to claim HRA.

Do I have to give rent receipts for every month to claim HRA from my employer?

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Rent receipts for income tax could be provided for a quarterly, half yearly or an annual basis to the employer.

What if my landlord does not have a PAN?

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In case the landlord does not have a PAN and charges over Rs 1 lakh as annual rent, he will have to provide a written declaration, along with duly filled Form 60. The tenant can then submit these documents to his employer to claim HRA deductions.

Can I submit soft copies of the rent receipt?

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While soft copies of the rent receipts are also accepted by some employers, others might insist on actual house rent receipt.

Do I have to submit my rent agreement to claim HRA?

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While submission of rent agreement is not necessary to claim HRA as long as you are providing the rent receipts, the tenancy arrangement will not be valid until a rent agreement has been signed and executed between the landlord and the tenant.

I share the rented property with another person. Can I claim the whole amount of rent as HRA?

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The deduction would be provided only on to the extent of your share that is mentioned in the rent slip.

Can HRA exemption be directly claimed if the company fails to do so?

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HRA exemption can be directly claimed by the individual at the time of filing the income tax returns by submitting the rent receipt for income tax.

Am I legally required to pay rent on a monthly basis?

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Since the law does not specifically ask you to make the rent payments on a monthly basis, you could pay it on quarterly, half yearly or an annual basis.

What conditions should salaried employees meet to claim HRA exemptions?

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Salaried employees who meet the following conditions can claim HRA tax exemption: You should live in rented accommodation You must accept HRA as a part of your salary package

What if I forgot to submit rent receipts at the time of declaration?

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HRA can be claimed while you file your income tax returns even if you forget to submit house rent receipts. All that is needed for claiming of HRA is possession of house rent receipts.

Will revenue stamp come in e receipt generation?

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No, revenue stamp will not come in e receipt generation.

Do I need to provide a lease agreement along with a rent receipt?

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For claiming HRA benefit, you do not have to submit the lease agreement since the tax law does not state that specifically. However, the tenancy will be invalid, if a rent agreement has not been signed and executed between the landlord and the tenant.