How to generate online rent receipt for tax saving using Cleartax.in
Cleartax.in has introduced an online rent receipt platform to claim your HRA benefit for tax saving. This tool helps you to create monthly rent receipts for a year. This free platform generates rent receipts online and assists you to claim HRA (House Rent Allowance).
How to generate online rent receipt using Cleartax.in?
Log on to ClearTax.in, click Generate Rent Receipt Now button from the main screen.
In next screen, you are required to fill your monthly rent amount and your residential address.
Once you submit this, you need to enter your Name, Email, Name of your House Owner, House Owner’s Pan Card (optional), and period for which the receipts are to be generated.
Finally, click on generate to view the rent receipts for the date ranges entered and this can be downloaded as pdf and printed for your tax claims. You need to get sign this from your house owner and claim HRA by giving this rent receipt to HR.
The rent receipts are generated in the following format:
You can take printouts of these receipts and also you will get an email with the rent receipts. The rent receipts can be generated for only 12 months at a time using this tool.
If your monthly rent is below Rs.3,000 then you are not required to provide any rent receipts for HRA claim.
Revenue stamp is mandatory, if your rent is paid by cash and if it is over Rs.5,000 and below Rs.8,333. The Landlord needs to sign across the revenue stamp affixed on the receipt. The revenue stamp is not required, if you are payment of rent is made via cheque or online funds transfer.
Landlord’s PAN is mandatory if your annual rent is above Rs.1 lakh or monthly rent is above Rs.8,333. In case of house owner’s PAN is not available, you can print a declaration form from your house owner with his/her signature.