Dear all,
First of all, a great thanks to the auto search plugin that helps to know if a similar thread has been posted.
My question is as below.
As per the new circular from Central Board of Direct Taxes (CBDT) on 10 October 2013, if annual rent paid by an employee exceeds Rs.1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer. I am in Kerala and paying a rent of only 7600/- per month, which comes to Rs. 91,200/- annually. So as per the circular, i understand, its not mandatory for me to give the landlords PAN no. However, the accounts department of my office has asked me to furnish the PAN card number of the landlord and told me that it is a must irrespective of whether the amount exceeds 1 lakh or not. They are saying that this update came as a different circular, later on and this was informed by the audit office to them.
I would like to confirm if this is true. Is there any other circular with regard to HRA for IT exemption from CBDT?
I did get many links on this topic, https://www.citehr.com/74500-landlor...-receipts.html and https://www.citehr.com/476590-cbdt-c...lord-must.html are few of it. But none of them explains as to what happens if the annual rent is below 1 lakh.
From India, Mumbai
1First of all, a great thanks to the auto search plugin that helps to know if a similar thread has been posted.
My question is as below.
As per the new circular from Central Board of Direct Taxes (CBDT) on 10 October 2013, if annual rent paid by an employee exceeds Rs.1 lakh per annum, it is mandatory for the employee to report PAN of the landlord to the employer. I am in Kerala and paying a rent of only 7600/- per month, which comes to Rs. 91,200/- annually. So as per the circular, i understand, its not mandatory for me to give the landlords PAN no. However, the accounts department of my office has asked me to furnish the PAN card number of the landlord and told me that it is a must irrespective of whether the amount exceeds 1 lakh or not. They are saying that this update came as a different circular, later on and this was informed by the audit office to them.
I would like to confirm if this is true. Is there any other circular with regard to HRA for IT exemption from CBDT?
I did get many links on this topic, https://www.citehr.com/74500-landlor...-receipts.html and https://www.citehr.com/476590-cbdt-c...lord-must.html are few of it. But none of them explains as to what happens if the annual rent is below 1 lakh.
From India, Mumbai
If the rent exceeds 1L only, the PAN is mandatory. Your Accts person may not be aware of this or he is harassing you. pon
From India, Lucknow
From India, Lucknow
Thanks a lot, Pon. I took a print out of the clause describing the details from the CBDT circular and also a thread on it from citehr and approached the accountant, who in turn called the audit office and confirmed that the PAN card is needed ONLY if annual rent exceeds 1 Lakh.
Thanks for the inputs.
From India, Mumbai
Thanks for the inputs.
From India, Mumbai
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