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
Nidhi Arora, a resident of Mumbai has moved to Bangalore for a year owing to her job. She stays in her father’s apartment and pays him rent too. While Nidhi’s employer offers the HRA … READ FULL STORY
A vital component of an employee’s salary is the House Rent Allowance (HRA). According to rule 2A of the Income Tax Rules (ITR) 1962, this CTC component is not entirely taxable. In this guide, … READ FULL STORY
Renting a property but confused between which one to choose- standalone or gated community? We through this guide will give a detailed description of the pros and cons of each property type, helping you … READ FULL STORY
In the realm of property rentals in India, rent receipts serve as a vital payment record between tenants and landlords. They not only act as proof of payment but also play an essential role … READ FULL STORY
To claim tax deductions against the house tax allowance component of your salary, you are required to submit proofs by way of rent receipts and rent agreements. However, it is a common practice in … 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
A rent receipt is an acknowledgement slip provided by the landlord to the tenant, on receiving the rent as per the terms agreed upon in the rent agreement. Whether you have occupied a residential … READ FULL STORY
Salaried employees in India can claim tax deductions on the house rent allowance (HRA) component of their monthly salary under Section 10(13A), Rule number 2A of the Income Tax Act. However, to claim this exemption, … 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
