Tax Saving Tips - House Rent Allowance Calculation in Income Tax
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In this video, our host explains what does it mean to pay Rent to our Parents and how can we save tax.
If you want to check out any particular areas of the video, feel free to forward to the below time-stamps:
00:00 - Introduction
01:06 - What is House Rent Allowance
01:22 - Tax Deduction & Tax Exemption
02:25 - Example
04:15 - Will Parents pay Tax on the Income?
05:35 - Should I pay Rent to my Parents?
06:40 - Don't miss this one.
Credits:
Researched, Scripted & Hosted by: Aditi Khandelwal
Video Editor: Ritesh Parihar
Subtitles by: Tania Ngariyambam
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Пікірлер: 50
00:00 - Introduction 01:06 - What is House Rent Allowance 01:22 - Tax Deduction & Tax Exemption 02:25 - Example 04:15 - Will Parents pay Tax on the Income? 05:35 - Should I pay Rent to my Parents? 06:40 - Don't miss this one.
@Nexatek
2 ай бұрын
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
Great!... All this information are very important.
Perfect, this is what I wanted.. Thank you mam
Nicely covered all the point Aditi 👍
Very perfectly explained
Excellent video.
Well explained.
That was perfectly explained.. Thank you for making such amazing videos.
@Nexatek
2 ай бұрын
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
excellent video
Mam, what will be the value of DA forming part of the salary in HRA calculator?
Hi nice video. One question payment made to bank which joint acct with son will that be accepted...?
I appreciate Jupiter and team for delivering good informations for people,and do it for ever all the best
@MillionsbyJupiter
2 жыл бұрын
Thank You Asif 😀
Finance smartly explained by financially smart Aditi , great job👍
@MillionsbyJupiter
2 жыл бұрын
Thank You, Yakshit 😊
You dint inform important thing while filing itr which option they need to select (let out property, deemed to let out or self owner ) while shwoing this rental income from their kids ?
Can I pay with bearer cheque...if mother account not exist?
My family(parents) and I live on rent together, so if i pay rent ,will that be exempted from tax??
We have a rent agreement but the owner is not ready to give the rent receipt. PAN is not required as the claim is 8k per month..what should we do?
Please reply me. I have this doubt for long time. Kya hum Parents ko rent cash me pay nahi kr sakte ? Mere Employer ne jo sample rent receipt diya hai usme Cash option bhi hai Mode of Payment me aur kahin koi option nahi hai select krne ko ki Parent ko rent de rahe hain ya kisi aur ko.
What if the parents are retired but we all stay in rented house..then in this how to pay rent to parents any solution regarding this scenario.
Is the notary compulsory on Agreement.?
2:33 Is Special Allowance Fully taxable? Can we get tax benefits for Special Allowance?
Does it cause problem , if we mention both of our address is same
Great Video, I have one doubt, Last Year I have bought a home (the owner is my mother) we have taken a home loan (co-share mom, dad & me). I have taken a rebate on a home loan (80C 1.5L & 2L on interest). Can I pay rent to my mom(as she is the only owner of the house) and show it as an HRA with home loan rebate on same property is it the valid case?
@bhavyagupta6140
Жыл бұрын
No you cannot take deduction of interest even if you repay the loan Because house is not on your name.
Intelligent person
Informative video
@MillionsbyJupiter
2 жыл бұрын
Thank You Saurabh 😊
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
Mam, is it legal to pay rent to Parents as per IT rule? Can IT department take any action in future, if we pay rent to our payment. Note that we are paying them rent by bank transfer..
In rental agreement our permanent address and parent's will be same right? So will there be any issue?
@vijayravi4540
Жыл бұрын
Yeh same doubt , did you get answer
@anusharacer
Жыл бұрын
@@vijayravi4540 No issue I believe
Can we claim HRA if I pay rent in cash to my owner?
@prasad19Dec
2 жыл бұрын
Nopes. Clearly mentioned in video.
aap e SM session m gaye the kya??
@aditikhandelwal
2 жыл бұрын
Yes 🙌
Mam muze bataye mera Pitaji ne flat kharida tha usme muze unhone co owner rakha tha jab me college ki padhai kar raha tha.... Abhi mere Pitaji expired ho gaye hai.... Me abhi married hu..... Meri wife job karti hai... To please bataye kya meri wife meri Mataji ko rent pay kar skti hai kya for tax benefit ? Please Mam bataye
@MillionsbyJupiter
2 жыл бұрын
If your mother is co-owner, then your wife can pay rent to your mother.
Hello, I am paying monthly rent of Rs 12000 in cash to my parents but I have not declared it anywhere and no agreement as well. Is there a way now to avail HRA exemption?
@sanatani9478
5 сағат бұрын
Bro u can save around 8k as no PAN or landlord information is required in such case.... So so rent less then 1L in a year by that u can save....
If my parents income is leass than 5L after I pay rent to them and they are not salaried, do they still need to file ITR ?
@prasad19Dec
2 жыл бұрын
Nopes..If the tax slab is 0..then how come..surely not
Informative video but ,, the other anchor were good ,, her deliverys and charm on the face was different….. please bring her back🌹
Can you speak in one language either in hindi or english. It's irritating to listen when they both combined
Good one aditi, loved watching! As i said. On Insta 😇😎