vikas vimal (Software Professional) 06 January 2014

Need help on getting the rent receipt from owner

I have a query regarding the Rent Receipt.

I am paying the rent on the time but owner doesn’t give me the rent receipt. When I asked for it then he replies “I wont give the rent receipt as I am having a home loan for this house and it will affect my tax savings as I am in 30% slab”.

I have argued to him saying that even I have to show for tax savings then he replied to me is that I don’t know about that but I will not give the rent receipt. Since I have completed 1year in the house so he asked to give more rent i.e. 8% from the current one but he is not going to give me the rent receipt.

If I am not wrong as per new law if a person gives more that 1lakh PA as rent then the house owner has to give rent receipt with PAN No. is it true?

If above statement is true and house owner is not ready to give the same then as a tenant what am I suppose to do? Please give me your suggestions.

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2 Replies

sreekanth (Assistant Manager- Taxation) 07 January 2014

Your house Owner is 'Reluctant to Pay Tax' on his 'Rent Income'. That why he fears not to give any rent receipt nor his PAN number.

As per your question it seems that you have just started paying Rent morethan 1 Lack..

As per Law since you need to submit Rent receipt if you Claim rent morethan 1 Lack,, Claim for rent up to Rs. 99,990/- No body will ask you To 'Give PAN of Owner'.

You can buy rent receipt book in any of Book shop & Claim with you Employer by submitting receipt on behalf of Owner. (Sign with name of Your Owner)

Link: exploreincometax.com

vikas vimal (Software Professional) 07 January 2014

Hello Sreekanth,

Thanks for you reply.

I need to clear couple of things here.

1. I am paying more that 1 lac from Dec'12 and now he is increasing 10% on it as I have completed 1 year. If I am paying more than 1 Lac and my HRA is also more than 1 Lac a year then why should I just let my tax go. Why should I show HRA for Rs. 99,990/- ?

2. As per my house owner, he is having having home loan for the same house and he has not declared rental property and trying to save the TAX.

Now, my question is his money is valuable and mine is not. He is not reluctant to pay the TAX but I should pay and top of it I should give him 10% hike on rent also. Is this Justifiable?

Please let me know what step I should take now?