House Rent Receipt PDF

House Rent Receipt

An HRA Rent Receipt PDF is an essential document for tracking the rental payments that tenants make to their landlords. This rental receipt is proof that the tenant has fulfilled their payment obligations as stated in the rental agreement.

Understanding House Rent Receipt for HRA Exemption

The House Rent Receipt PDF can be very useful for employees who want to claim HRA exemption directly in their income tax returns. You can easily calculate the exempt portion of your HRA using an online calculator. This exempted amount must be deducted from your total taxable salary, and the net amount will appear as your ‘income from salary’ in your income tax return.

House Rent Receipt – Important Rules

If an employee receives HRA more than Rs. 3000/- per month, it is necessary to provide a rent receipt to the employer as proof for claiming HRA. Even if your HRA is below Rs. 3000/-, it is a good idea to keep any rent receipts in case the Income Tax Officer requests them later.

• The rent agreement should be on a Rs. 500 stamp paper or according to the stamp duty rules in your state.
• If you pay annual rent over Rs. 1,00,000/-, you must furnish the PAN of the landlord to avail HRA exemption. If the landlord refuses to provide their PAN, you cannot claim HRA for the rent above Rs. 1,00,000/-, which means your employer will deduct TDS from your salary accordingly.
• Rent agreements can only be made for a maximum of 11 months.
• For agreements extending beyond 12 months, it’s better to go for a lease deed, which requires registration.
• Every year, the rent agreement must be renewed after 11 months, usually with an increase in rent.
• Both the landlord and tenant must adhere to the notice period mentioned in the agreement.

Rent Receipt Format

HRA Rent Exemption Limit

The least of the following three amounts is tax-exempt –

• Actual HRA Received
• Rent paid minus 10% of your Salary
• 40% of your Salary (or 50% in cities like Mumbai, Delhi, Chennai, and Kolkata) i.e., (Salary = Basic + DA)

You can download the House Rent Receipt PDF using the link given below.

Download House Rent Receipt PDF