Tax Saving Tips - House Rent Allowance Calculation in Income Tax

Let’s increase our financial literacy!
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

  • @MillionsbyJupiter
    @MillionsbyJupiter2 жыл бұрын

    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

    @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..

  • @subisw
    @subisw2 жыл бұрын

    Great!... All this information are very important.

  • @suhasgali4796
    @suhasgali4796 Жыл бұрын

    Perfect, this is what I wanted.. Thank you mam

  • @KRISHNAKHANDELWALBEM
    @KRISHNAKHANDELWALBEM2 жыл бұрын

    Nicely covered all the point Aditi 👍

  • @Jay-vl6ew
    @Jay-vl6ew2 жыл бұрын

    Very perfectly explained

  • @manishsinha5670
    @manishsinha56702 жыл бұрын

    Excellent video.

  • @naturesbeauty7267
    @naturesbeauty7267 Жыл бұрын

    Well explained.

  • @Cricketvilla31
    @Cricketvilla31 Жыл бұрын

    That was perfectly explained.. Thank you for making such amazing videos.

  • @Nexatek

    @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..

  • @charnkamal1991
    @charnkamal1991 Жыл бұрын

    excellent video

  • @navkarjain2175
    @navkarjain21752 жыл бұрын

    Mam, what will be the value of DA forming part of the salary in HRA calculator?

  • @JayPatel-uu2ix
    @JayPatel-uu2ix2 жыл бұрын

    Hi nice video. One question payment made to bank which joint acct with son will that be accepted...?

  • @Asifraidenshorts
    @Asifraidenshorts2 жыл бұрын

    I appreciate Jupiter and team for delivering good informations for people,and do it for ever all the best

  • @MillionsbyJupiter

    @MillionsbyJupiter

    2 жыл бұрын

    Thank You Asif 😀

  • @yakshitchhabra9781
    @yakshitchhabra97812 жыл бұрын

    Finance smartly explained by financially smart Aditi , great job👍

  • @MillionsbyJupiter

    @MillionsbyJupiter

    2 жыл бұрын

    Thank You, Yakshit 😊

  • @rkbbhatia9679
    @rkbbhatia967915 күн бұрын

    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 ?

  • @anilsonkar5554
    @anilsonkar55542 жыл бұрын

    Can I pay with bearer cheque...if mother account not exist?

  • @ay-by9qs
    @ay-by9qs2 жыл бұрын

    My family(parents) and I live on rent together, so if i pay rent ,will that be exempted from tax??

  • @rachanasarpotdar7900
    @rachanasarpotdar7900 Жыл бұрын

    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?

  • @akashranjan2662
    @akashranjan26622 жыл бұрын

    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.

  • @asaddimtimkar7544
    @asaddimtimkar75442 жыл бұрын

    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.

  • @harieshgorrle6726
    @harieshgorrle6726 Жыл бұрын

    Is the notary compulsory on Agreement.?

  • @akshatpal8343
    @akshatpal83432 жыл бұрын

    2:33 Is Special Allowance Fully taxable? Can we get tax benefits for Special Allowance?

  • @vijayravi4540
    @vijayravi4540 Жыл бұрын

    Does it cause problem , if we mention both of our address is same

  • @mohitthakur6609
    @mohitthakur66092 жыл бұрын

    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

    @bhavyagupta6140

    Жыл бұрын

    No you cannot take deduction of interest even if you repay the loan Because house is not on your name.

  • @arunbabool3263
    @arunbabool3263 Жыл бұрын

    Intelligent person

  • @saurabhnagarkar654
    @saurabhnagarkar6542 жыл бұрын

    Informative video

  • @MillionsbyJupiter

    @MillionsbyJupiter

    2 жыл бұрын

    Thank You Saurabh 😊

  • @Nexatek
    @Nexatek2 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..

  • @kapilthakkar7090
    @kapilthakkar70902 жыл бұрын

    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..

  • @anusharacer
    @anusharacer Жыл бұрын

    In rental agreement our permanent address and parent's will be same right? So will there be any issue?

  • @vijayravi4540

    @vijayravi4540

    Жыл бұрын

    Yeh same doubt , did you get answer

  • @anusharacer

    @anusharacer

    Жыл бұрын

    @@vijayravi4540 No issue I believe

  • @abhishekm1361
    @abhishekm13612 жыл бұрын

    Can we claim HRA if I pay rent in cash to my owner?

  • @prasad19Dec

    @prasad19Dec

    2 жыл бұрын

    Nopes. Clearly mentioned in video.

  • @suranjankhatua802
    @suranjankhatua8022 жыл бұрын

    aap e SM session m gaye the kya??

  • @aditikhandelwal

    @aditikhandelwal

    2 жыл бұрын

    Yes 🙌

  • @prashantrane9460
    @prashantrane94602 жыл бұрын

    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

    @MillionsbyJupiter

    2 жыл бұрын

    If your mother is co-owner, then your wife can pay rent to your mother.

  • @ashishaggarwal1519
    @ashishaggarwal1519 Жыл бұрын

    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

    @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....

  • @iosaroj
    @iosaroj2 жыл бұрын

    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

    @prasad19Dec

    2 жыл бұрын

    Nopes..If the tax slab is 0..then how come..surely not

  • @hetulsharma3248
    @hetulsharma32482 жыл бұрын

    Informative video but ,, the other anchor were good ,, her deliverys and charm on the face was different….. please bring her back🌹

  • @satya121100
    @satya121100 Жыл бұрын

    Can you speak in one language either in hindi or english. It's irritating to listen when they both combined

  • @prasad19Dec
    @prasad19Dec2 жыл бұрын

    Good one aditi, loved watching! As i said. On Insta 😇😎

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