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HRA Exemption: Landlord's PAN mandatory if rent paid over Rs. 100,000.00 per annum

Not a good news for salaried person, who are living in rented house and claiming House Rent Allowance exemption under section 10(13A) of Income Tax Act.  Income Tax Dept has recently released Circular NO. 08/2013 F No 275/192/2013-IT(B) dated 10/10/2013 vide which it has been stated that an an employee who is claiming House rent exemption (HRA) and if annual rent paid by the employee exceeds Rs. 100,000 per annum, it is mandatory for the employee to report PAN of the land to the employer.

Earlier the submission of pan of landlord was mandatory if rent paid was Rs. 180,000 per annum wef FY 2011-12, now the limit has been significantly reduced to one lakh only wef financial year 2013-14

In case the landlord does not have a PAN, a declaration to this effect from the landlord along with the name and address of the landlord should be filed by the employee

So all employee/employers/DDO(drawing  and disbursing officer) should note down this amendment and make sure the compliance of it while finalizing the calculation and deduction of tax on payment of salary

 

Prakash Nair

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www.keralites.net

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