One of the most important ways to save tax is by claiming House Rent Allowance (HRA). This holds true if your salary falls under Section 10(13A) of the Income Tax Act. After the new … READ FULL STORY
The House Rent Allowance (HRA) is an integral part of most people’s salary. Under Rule 2A of the Income Tax Rules (ITR) 1962, this salary component is not fully taxable if a person is … READ FULL STORY
When investing in property, individuals are required to pay taxes. However, the property sector also offers tax deduction benefits that can be advantageous to many. For example, while individuals can take advantage of home … READ FULL STORY
In India, House Rent Allowance (HRA) is a popular tax-saving option for salaried employees, allowing them to reduce taxable income by showing rental expenses. However, some misuse this provision by submitting fake rent receipts … READ FULL STORY
You can lower your income tax liability by claiming exemption on the house rent allowance (HRA) you receive as part of your salary even if you pay rent to your spouse. In fact, The … READ FULL STORY
The annual salary an employee gets from his employer is divided into various components. The component that is paid for renting an accommodation is known as the House Rent Allowance or HRA. HRA is … READ FULL STORY
Salaried individuals in India are asked by their employers to give proof of previously declared investments before they go for tax deduction from their salaries. If you are living on rent and house rent … READ FULL STORY
Since house rent allowance or HRA is almost always an integral part of a company’s salary structure, knowing the nitty-gritty of HRA calculation and HRA exemption is crucial for tax savings purposes. How so? … READ FULL STORY
Rent receipts are proof of transactions that happened between the landlord and the tenant. There have been cases where tenants have been denied HRA exemption, on the ground that there was no rent receipt … READ FULL STORY
Suppose you live with a family member and receive HRA as part of your salary package. Did you know that there is a way to save taxes, in case you pay rent to the … READ FULL STORY
To meet the high costs of living in rented accommodations, employers pay house rent allowance (HRA) to their employees. India’s income tax laws also provide benefits to people who do not own a house … READ FULL STORY
The rental housing market has many options, available at various rates. Consequently, it may be difficult for a prospective tenant to figure out how much to spend as rent. The answer to this, depends … READ FULL STORY
Update on February 1, 2019: The exemption for TDS on house rent increased from Rs 1.8 lakhs to Rs 2.40 lakhs. There will also be an exemption on the notional rent of second homes which are … READ FULL STORY
