Agreed, but if I do not want to live in Mumbai then

Product Manager

Corporate Strategist

Does my parent has to own any property or I can anyways pay rent to my parents

Not sure about this but you could say that your parents are subletting a room to you. (Although do check the original rent agreement for any clause that stops from subletting)

Software Developer

Yes, you can pay rent to your parents even for a rented place.

Claim it by sending the amount to your parents as rent(preferably the one who earns less so that this additional income doesn't affect their tax bracket)

Consultant

By moving to new Tax regime and not giving a shit abt deductions.

Investment Manager

Check with a ca, if rent paid is above a certain amount, 1 lac annually I think, one is required to declare landlords pan no. Can expect IT notice if there’s a mismatch in rent declared as paid to landlord and rental income as declared by landlord..

Welcome to Fintech India's Private Community

Just a question related to claiming HRA,What is the best practice of claiming maximum HRA,for example if basic salary is 100000,then company pay HRA as 50k,which is almost very difficult to claim. How are people.claiming that legally.Thanks

Just a question related to claiming HRA,What is the best practice of claiming maximum HRA,for example if basic salary is 100000,then company pay HRA as 50k,which is almost very difficult to claim. How are people.claiming that legally.Thanks- Grapevine

Welcome to Personal Finance's Private Community

My total hra is 10L but CA told me to claim max 5L because I am from non metropolitan. 
Is he right?  
he told me govt can send a notice if i claim this much.

How much HRA should i claim?

Software Engineer

Hi people, tax season is here, I need help with HRA rules.

Hi , I need your help in understanding HRA for tax calculations. 

As per old regime, HRA is calculated as minimum of:
a. Actual HRA received 
b. 50% or 40 % of basic 
C. Actual rent paid -10% of basic

My question is why isn't complete rent paid annually is not considered as tax exempted regardless of any clauses? The entire rent I pay is an outgo for me and income for the landlord. If I calculate using above 3 conditions , my exempted tax amount will always be lesser than the actual rent I paid in a year. So why total annual rent paid is not considered exempted? 

It's like I am paying 100rs for something but getting tax benefit only on 70rs. Is there something that I can do about it?

Help with HRA rules for tax

I just started my first full time job and will be filing ITR for 1st time next year, no one in my family has been in high tax slab previously so not much experience from there :D

Some questions:

- Almost 50% of my base pay is getting used in paying EMIs (Mostly mortgage) of my family, nothing is on my name, all on father's name, is there a way to claim this in deduction ?

- We have our own house in a tier 3 city and I'm getting 30k/month as HRA, what will be safe HRA amount to claim ?

- Can we claim any other expenses in deduction ? Leave travel allowance seems useless to me as I'm working remotely.

- Which tax regime do you prefer ? New or old ?

I could have done investments to save taxes but nothing is left after all the expenses and nothing on my name 😛

Advice needed for filing tax

Asking for a friend who is not on GV:

Hi, while submitting HRA proofs, I forgot to attach the previous rent agreement which covered the first 5 months of the year. As a result, the team has come back and only approved hra claim for the period covered in the current agreement. They are saying there is no way for us to reupload additional proofs (previous agreement) for company-level hra processing, and that we should claim these remaining hra savings while filing taxes. Has anyone done so before? What is the process? Please advise, thank you.

HRA claim while filing taxes

Investor

My PG rent is 11x the amount, but the HRA allotted to me from the company side is 17x, if I show 17x in papers, would it cause any trouble to the PG owner, I heard they would get notice. Is it okay to do so, please help here.

HRA - Help Needed

Heard on app people getting notices
Any info on this? Is it also for <1 lakh claims

Notice on HRA claims?

Analyst

Welcome to Software Engineers's Private Community

Those who are earning more than 50lpa base how much tax do you end up paying? 😶‍🌫️

Tax on 50lpa+

CA here. In case anybody has any query regarding Income-tax return filing, can comment below. Will try to help you out as much as possible.

Income- tax Return

Has anyone ever received a notice from the Income Tax department for declaring an HRA component without giving the relevant proofs to their employer?

Guys working from home, how do you claim HRA?

HRA declaration

Since the tax season is upon us, I wanted to check how do you folks handle tax related things? 
1. What are some tricks you use for tax saving?
2. Do you work with a CA or handle taxes yourself?
3. For folks having salary>30lpa- which tax regime have you chosen?

How do you handle taxes?

It’s so painful to see the amount of money I end up paying on the name of tax. Presently doing  - 1.5L of LIC and pf + 50k NPS + HRA. What else can be done? My CTC is 55LPA.

Ideas to lower income tax

Don't lose hope; keep fighting, better days are ahead.

But this is extremely better. U are either very skilled or had fortune on ur side. Not everyone will have it 😅 Congrats! 🙌🏻

Founder

Alert: a rant post

Today I saw my payslip after a long time and WTH! I don't know what they'll take once bonus comes in. Paying this much for no water, bad air, corrupt babus and all those douche things.

As much as patriotic I am, this is just insane. On top of this add all the GST and sheet ton of other indirect taxes.

Living in India and paying like Europe. Wow!

Duck the government

Earning around 50 lpa at 24 is already a great feat. Still if u want to look at the dark side, nobody can help. This rant is more common than diabetes. Yet people will stress about same thing and rant to destress. Endless cycle. Either do something about it or bring some new perspective. P.S. I am in alignment with ur rant but I’ve made peace with the state of affairs as I am not looking to move out of India and I cannot strong arm govt. individually to change this.

Senior Product Manager

Hi folks,
I have one question regarding HRA deduction. I am paying rent to my parents and then claiming it under HRA deduction.

Recently my HRA increase and now I am planning to pay 50k as rent to parents in new financial year and claim HRA. Previously I was paying 30k.

Is there any issues with that?

Thanks!

Query on Rent to Parents

I’ve used a persons PAN and its name for claiming HRA of 12k but it get rejected saying name mismatch and now I don’t have the actual PAN to tally as i’ve relocated. So now can i change to some other landlord’s PAN and Name for the whole year and submit it with 12k claim or new PAN with 8333 as it will be less than 1lac yearly so they won’t verify the name change. What shod i do pls suggest?
Also if I’ll not provide submit any info for HRA will i get the tax rebate for 1 lac yearly?

HRA tax exemption

I recently started my job(2023 grad), a lot of senior folks at my firm are (indirectly) stating that they fake hra. Is it safe? Should I also consider doing it? Let's say I live in city A and my parent live in city B can I give my parents id as landlord?

Just a question related to claiming HRA,What is the best practice of claiming maximum HRA,for example if basic salary is 100000,then company pay HRA as 50k,which is almost very difficult to claim. How are people.claiming that legally.Thanks

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