Protect Tenants Interests
Majority of landlords is not ready to enter a legal house agreement in order to avoid disclosing the PAN card details and escape from paying the tax.They accept payment in cash so that no proof of income can be available.
Around 2 years back the income tax department had issued a directive to bring the PAN card of the house owner in order to claim HRA exemption if rent paid by an individual is in the excess of Rs 1 lakh per annum. This mechanism of cutting the extra tax claimed by individuals is one sided and adversely impacts those who are not able to get PAN cards from their landlords. more
Around 2 years back the income tax department had issued a directive to bring the PAN card of the house owner in order to claim HRA exemption if rent paid by an individual is in the excess of Rs 1 lakh per annum. This mechanism of cutting the extra tax claimed by individuals is one sided and adversely impacts those who are not able to get PAN cards from their landlords. more
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Venkatesh Sekhar sir, this is the best solution I heard so far, thank you. But Govt. is only targeting Tenants to get owners rented income info.if we see from 2013 to now, every year they are changing HRA rule.Not sure what they want to achieve with those changes. more
Jan 02
All properties should be identified with unique number by sub-register office. In case of split or merger of 2 properties, new number should be given. Declaration of asset in IT return should have this Unique ID of Property. Even tenants should mention the Unique ID of the property where they stayed and the amount of rent paid by each ID, for claiming deduction under section 10A. This is the best way to bring to light the unaccounted rental income by property owners. more
Jan 02
When govt.talks about black money ,they need to sort out this kind of issues also.There is no point in leaving some ppl and tightning some. more
Jan 02
Turn over Tax appears to be a solution for above such problems. Modi ji may not totally rely on Finance Ministry advise. Hon'ble Finance Minister gave mere 12% hike for 7th Pay commission to Central Government employees and calls as "Bonanza", an idiotic terminology by him. After 10 years you give minimum hike, which is equal to 2 DA instalments of one year and call as Bonanza!! While all Parliamentarians with brute voice vote enhance their salaries doubled without any review! more
Dec 28
