Landlord PAN Number Required For House Rent Over Rs 15000 per month | HRA Exemption| PAN Required For HRA More Than Rs 180000 Per Year
Landlord PAN Number Required For House Rent Over Rs 15000 per month | PAN Required For HRA More Than Rs 180000 Per Year
All salaried employee in a company can avail income tax benefits by submitting house rent receipt. This is called HRA Allowances paid through every month salary.
Till date the rent receipt was enough to avail the tax exemption. But as per the current circular of Income Tax dept, it is mandatory to submit landlord PAN card while rent is over Rs 180000 in a year.
Below we discuss some condition & exception on this rule of mandatory to submit landlord PAN card while rent is over Rs 180000 in a year.
What Happen When PAN Number Is mentioned With House Rent Over Rs 180000 In A Year:
- Employee will enjoy the income tax exemption on the total rent. Landlord have to pay income tax on the amount exceed Rs 180000
What Happen When PAN Number Is mentioned With House Rent & LandLord Is Senior Citizen:
- Employee will enjoy the income tax exemption on the total rent. Landlord have to pay income tax on the amount exceed Rs 250000
What Happen When LandLord don’t Have A PAN Card & House Rent Over Rs 180000 In A Year:
- Landlord must sign the self declaration saying that he don’t have the PAN card and that copy must be submitted to the employer to get the HRA exemption
Is PAN Card Required If House Rent Is Exactly Rs 15000 Per Month:
- No. PAN Card is not required if house rent is exactly Rs 15000 per month
When LandLord Doing Trick To Avoid PAN Number In House Rent Exemption:
- LandLord may receive rent over Rs 18000 per month & can make it in two part called Maintenance & Rent when asked for PAN number.
- This is actually a trick to avoid PAN in House Rent Exemption
- Employee will loose his TAX Benefits due to this
- Employee may complain to Income Tax office regarding this trick or call the Police
Do You Need To Submiit Landlord PAN Number When House Rent Is Rs 15000 or below per month:
- No. No need to submit Landlord PAN Number