House Rent Allowance (HRA) Tax deduction FAQ

by Abhinav Gulechha on November 14, 2013

House Rent Allowance is exempt subject to conditions under Section 10(13A) of the Income Tax Act.

If you are employed, in all likelihood, you must be getting House Rent Allowance (HRA) as part of your salary. You have to deal with House Rent allowance at 3 points during the year:

  • As part of filling investment declaration in April-May, you have to specify the rent paid per month. Your employer will use this info to calculate your monthly TDS deduction from salary.
  • When the employer calls for proof of investment, generally you are required to provide rent agreement copy + rent receipts (each company has a different policy, some are strict, some are lax…)
  • At the time of filing income tax return, your form 16 will contain an exemption relating to house rent allowance. If you have forgotten to claim, you can claim now

Claiming House Rent Allowance deduction involves some calculations, and then there is paperwork involved, hence a lot of queries and confusions. Hence, I have tried to compile some FAQs to help you claim the right deductions.  I will be really happy to answer any queries of readers in this regard

Who can claim House Rent Allowance?

Only if you are in employment and getting a “salary”, you can claim deduction of house rent allowance. In case you are a self-employed professional, no sweat!  -though you cannot claim house rent allowance exemption, you can claim exemption under section 80GG (I wil do a detailed post on that section in coming days).

How to calculate exemption in respect of House Rent Allowance?

When you are calculating HRA for tax exemption, consider the following points:

  • Your Salary
  • HRA received in your salary
  • House Rent paid by you: You can get tax exemption only when the house rent paid by you is more than 10 per cent of your salary.

•     Place of residence: If you are living in a metro city (Mumbai, Kolkata, Delhi or Chennai) then tax exemption on HRA is 50% of the basic salary, while that for non-metro cities is 40% of the basic salary.

Simple steps are given below to calculate your taxable amount in HRA:

A: Find out how much HRA you have received in your salary

B: Calculate 50 % of your basic salary (if living in metro) else 40 % of your Basic Salary

C: Calculate excess rent paid over 10% of your salary (Actual rent paid – 10% of your salary), that will be the amount that is fully exempted from tax.

D: Taxable amount:  (HRA Received – Excess Rent paid over 10% of salary) = A – C

Sample example to calculate tax exemption on HRA

Mr Amit earns a basic salary of Rs 50,000 per month and lives in a rented apartment in Mumbai. He pays Rs 25,000 per month as house rent. The actual HRA he receives is Rs 30,000. How much will be his taxable amount in HRA received by him?

  • Actual HRA received                                                   30,000
  • 50 per cent of the basic salary,(metro City)                25,000
  • Excess of rent paid over 10% of salary:     25,000(Actual rent) – Rs 5,000(10% of 50,000)        20,000,

So on the above amount of Rs 20,000, he will get tax exemption

  • Taxable Amount: (HRA received-Exemption on HRA) = Rs. 30,000 – 20,000= Rs. 10,000

Important note:

If the above mentioned factors remain constant throughout the year, then exemption can be calculated on an annual basis, however, if even a single parameter changes, then house rent allowance exemption has to be done monthly and summed up for year.

For this purpose, download this calculator here that will help you calculate the correct exemption for the year:

DOWNLOAD HRA EXEMPTION CALCULATOR

Can I get tax exemption for the entire year even if I had lived in a rented accommodation only for 2 months in that year?

Tax exemption for house rent allowance is allowed only for that part of the year in which you have lived in a rented accommodation and rent is paid by you.

If you have lived for rent for only 2 months, you can use the calculator and enter rent paid details for only 2 months, for rest of the months, you will have to enter zero. The calculator will automatically calculate and grant you exemption for 2 months and return the exemption amount.

While calculating tax exemption on HRA, only salary of the period during which rental accommodation was occupied will be considered. Also, salary is determined on due basis( considering basic salary, dearness allowance and commission). This means that if you receive due salary of earlier years or advance salary for future years, it will not be considered while calculating the tax exemption.

In what cases I am not eligible for tax exemption in respect to HRA?

You will NOT be eligible for tax exemption on HRA if,

  • If you live in your own house,
  • If you live in a house where you don’t pay any rent i.e., living in a relative’s place etc
  • If the rent paid by you is less than 10% of your basic salary.
  • If you pay house rent to your spouse, this does not qualify for exemption as she is not the owner of the house.

But you can claim exemption on rent paid to others including parents, brother, sister in-laws etc provided that they own the house and registry is in their name.

Can I claim for tax exemption if my rent payment is due and not paid?

Also, you need to pay the rent before claiming for tax exemption. If rent is due but not paid, you would not be eligible to get tax exemption. A proof of rent payment (receipts from the landlord) needs to be provided to the employer while calculating the HRA tax exemption in the monthly tax calculation.

Can I consider my wife’s salary also for claiming tax exemption?

If both husband and wife are working and living in the same rented house, both can claim HRA subject to the share of rent paid by them individually. Both can claim exemption up to their share of rent paid by them.

Do I always need to provide PAN details of my landlord while claiming for tax exemption?

You need to provide PAN details of landlord if rent exceeds Rs. 1.0 lac in a year.

Also note that Income Tax Department tightened its focus on bogus HRA Exemption claimed by salaried employees in income tax returns. Refer to this article on economic times here 

What if my landlord does not hold PAN Card? Will i get tax exemption in that case?

According to the CBDT circular, if your landlord does not have a PAN, he has to provide a declaration with his signature and his complete name and address, that he does not have a PAN card. Along with it, he has to identify himself by attaching valid identification proofs.

I am having a property which is under construction, can i avail HRA tax exemption on this property?

No, as under construction property does not qualify for tax exemption.

I am having Home Loan, can i still claim for tax exemption on HRA?

Well Home Loan and HRA does not have an impact on each other.

If  your own home is rented out or you work from another city etc then As long as you are paying rent for an accommodation, you can claim tax benefits on the HRA component of your salary, while also availing tax benefits on your home loan. Please account for any rental income you receive from the property you own under income from House Property.

What are the Proofs to be submitted while claiming for tax exemption on HRA?

Following documents as proofs are required to be submitted in order to avail HRA exemption benefits.

Rent receipt from Landlord, Rent Agreement from Landlord and Landlord’s PAN details

When do i need to provide rent receipts for availing the HRA exemption?

You need to provide proof of rent paid by you in the form of rent receipts. If the amount of rent paid is less than Rs 3000 the submission of rent receipts is not mandatory, otherwise submission of rent receipts is necessary for availing the HRA exemption.

Do I  need any other supporting document when paying rent by cash?

Also, if the rent is paid by cash and the amount is more than Rs 5000, then on the rent receipt a revenue stamp of Rs 1 is required to be pasted on the rent receipt and signed across by the landlord.

Details of HRA in Form 16

Having submitted the necessary proofs for claiming tax exemption and fulfilling other necessary conditions to get tax exemption, you can find your HRA details in Form 16 provided by your employer.

Below screen shows the HRA tax exemption in Form 16.

House Rent Allowance (HRA) Tax deduction FAQ

Same details you are required to fill in your Income Tax Return Form,

ITR1 Form

There is only one column in ITR1”Income From Salary” for filling up your chargeable Income earned as Salary or Pension. Here in this column you are required to fill your Gross Salary which includes all deductions, allowances etc. Below is the screenshot of ITR1, here in the column marked in red, you have to fill your Gross Salary details.

House Rent Allowance (HRA) Tax deduction FAQ

ITR2 Form

Below is the screenshot of Schedule S in ITR2 Form.

  • Salary (Excluding all exempt/non-exempt allowances, perquisites & profit in lieu of salary ) should be filled from Gross Salary column shown in Form 16 screenshot above.
  • Fill the other matching columns like Profits in Lieu of Salary, Value of prerequisites from the above Form16.

House Rent Allowance (HRA) Tax deduction FAQ

If you have forgotten to claim for HRA tax exemption last year, you can still claim it now.  This time the taxable income would be more, because employer would have deducted tax on it. Now when you claim it in ITR you are likely to pay less tax this time and your tax liability will reduce. There are some cases where you have paid more tax than due you might get refund also.

Hope this article was useful to you. For any queries or suggested please write to us.

 

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Abhinav Gulechha

SEBI Registered Investment Advisor (RIA) & Principal Financial Planner at M/s Soham Financial Planners
I am a SEBI Registered Investment Advisor (RIA) and Principal Financial Planner at www.sohamfp.com. I am a Certified Financial Planner (CFP) professional and a Chartered Accountant by qualification. My mission is to make financial planning accessible to every young middle class family in India. Join the tribe to learn more about personal finance and also to share your knowledge with fellow members.

{ 129 comments… read them below or add one }

Allan January 27, 2014 at 11:11 pm

Hi,
Do I have to submit a rental agreement if I’m paying rent to my mother or will the rent receipt do to get HRA exemption? The issue is that I want to claim HRA exemption for the whole financial year but haven’t any agreement with my mother.

Reply

Abhinav Gulechha January 28, 2014 at 12:48 pm

Dear Allan

There is no requirement under Income Tax Act for an agreement. However, your employer may/ may not ask for an agreement copy in addition to receipts, to give you an exemption. If they do, you will have to provide.

Reply

Allan February 3, 2014 at 8:44 pm

Thank you!

Reply

Abhinav Gulechha February 4, 2014 at 11:27 am

You’re most welcome Allan!

Reply

Krishna Reddy January 30, 2014 at 11:48 am

Hi, I am staying with my father and didn’t have any rental agreement document and so didn’t claimed HRA with my employer. Also, I showed that I am staying in self owned flat for which i am actually receiving a rent of 4000 per month. Now I noticed that I am ending up paying more towards the tax and want to claim it while filing IT returns. Can you please suggest what should I do?

Reply

Abhinav Gulechha January 30, 2014 at 12:41 pm

Dear Mr. Krishna

I am not clear to your query. You cannot stay in own flat and pay rent at the same time, except where you are staying elsewhere on rent due to business/ profession exigencies.
And if you are living in own flat, how come you are getting rental income?

Please clarify.

Reply

Bindu January 30, 2014 at 4:51 pm

I just read an article stating “Those people who are living in a rented accommodation but paying pre-EMI for the soon-to-be possession of their new home, how can they calculate the exemption?
Those who have booked house and have taken home loans from various financial institution must be paying monthly EMI (Equated Monthly Instalments) to their respective financial institutions. They’ll get the deduction as per the normal category which is:
a) HRA Received
b) Rent paid Less 10% of Salary
c) 40% of salary (50% for Metro Cities)”

My question is if i am residing in a rented house and paying EMI for soon-to-be possession of my new home. can i avail tax benefit on HRA if i don’t submit rent receipt

Reply

Abhinav Gulechha January 31, 2014 at 10:45 am

Dear Ms. Bindu

Irrespective of whether you are paying pre-EMI for your other booked flat or not, you will get HRA deduction for the rent paid and as per your employer’s policy, you WILL have to provide rent receipts and/or copy of agreement to claim the deduction.

note one very important thing – in the year and month in which the construction of your flat is completed, you can start claiming one fifth of pre-EMI interest from that year, however DO NOT claim HRA post the month in which construction is completed. Many people make this mistake.

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Rajesh February 2, 2014 at 1:19 pm

Can I furnish rent agreement even if it does not include my name?

Reply

Abhinav Gulechha February 3, 2014 at 5:40 am

Dear Mr. Rajesh

Normally employers ask for rent agreement has to be in your name but it is not a compulsory requirement under the Income Tax Act. You can check with your employer company’s policy in this regard whether they accept it. If they do, then no problem.

Reply

Pranay Kumar February 5, 2014 at 1:58 am

Dear Mr Gulechha

I have a query

If I have to keep my family for a period of 9 months in a different city that my city of employment , since I cannot shift them due to board exams etc to my city of employment . Can I get the HRA INCOME TAX EXEMPTION on the rent being paid for my family . ? If yes what do I need to do

Reply

Abhinav Gulechha February 5, 2014 at 10:22 am

Dear Mr. Pranay

Yes, you can do that. There is no issue. Only that you need to provide proper rent receipts to employer. In this case, even if you have own house for which you want to claim interest deduction for loan, you can do that too..

Reply

joy smith February 5, 2014 at 9:50 pm

Hi Mr Abhinav,

Can I claim HRA exemption when filing my IT returns. Actually I paid around 90000 rent this year but when my employer asked for submitting rent agreement and receipt, I was not in india. So my employer is not giving any tax exemption on HRA as the deadline for submitting proof is over. Can I some how claim for a refund while filing returns in 2014. If so, what all docs are required as proof and is the process to get refund complicated. What steps should I take to ensure proper tax refund

Reply

Abhinav Gulechha February 5, 2014 at 10:13 pm

Dear Mr. Joy

Yes you can definitely claim HRA exemption while filing your tax return. You do not need any extra docs. While filing tax return, just calculate the HRA exemption and deduct from “Income from Salaries” as shown in your Form 16, and show that amount in the return. You will get the refund for the HRA amount.

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joy smith February 6, 2014 at 10:32 am

Do I not need to submit rent agreement and rent receipt while filing returns?

Reply

Abhinav Gulechha February 6, 2014 at 12:03 pm

No, you dont need to. Just retain those documents at your end so that later in case of any enquiry, they can be produced.

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Rakesh Pushp February 6, 2014 at 10:55 am

Can I claim HRA exemption? I have paid around Rs. 30000 rent this year. But my employer is not willing to give any rent receipt to me. my annual salary is Rs. 280000, and i am not getting any HRA.
is it possible to get rebate without rent reciept and without pan card of landlord.

Reply

Abhinav Gulechha February 6, 2014 at 12:04 pm

Dear Mr. Rakesh

If your employer does not give you “House Rent Allowance” as a salary component, you cannot claim HRA exemption.

Reply

Rohit Jha February 6, 2014 at 2:01 pm

Hi abhinav,
in the section “Sample example to calculate tax exemption on HRA” above, the basic salary of Rs.50,000 is the gross or the net salary or is it the basic component of the salary?
Thanks
Rohit

Reply

Abhinav Gulechha February 6, 2014 at 3:48 pm

Dear Rohit

It is the “basic component” of salary. For HRA calculation purpose, only basic salary is considered.

Reply

Rohit Jha February 6, 2014 at 4:37 pm

Thanks a lot for the quick and helpful reply.

Reply

Abhinav Gulechha February 7, 2014 at 11:50 am

You’re most welcome Rohit, glad to have helped you. Also check out our other posts, you should find them helpful and let me know in case you have any queries.

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DrHaresh Mulani February 7, 2014 at 7:20 pm

I have reported all deductions to my employer. But he ask me to claim HRA
exemption by myself as he dont know how to calculate it. Now how can I
claim them in my Income Tax Return. What documents i need to submit and
to whom?

Reply

Abhinav Gulechha February 8, 2014 at 11:37 am

Dear Mr. Haresh

You do not need to submit any documents. Just go through our post again and you can calculate exemption yourself. When filing the return, deduct the HRA exemption amount from Income from salaries as per form 16 and file the return. Any questions let me know.

Reply

DrHaresh Mulani February 8, 2014 at 4:43 pm

Thank for your reply. While filing the return, i can deduct the HRA exemption amount from Income from salaries as per form 16 and file the return. But employer refusing to furnish the details of HRA exemption in Form 16 given by them. Now i want to know how to claim that in my Income Tax Return without that details given in Form 16. Weather i have to submit any document?

Reply

Abhinav Gulechha February 10, 2014 at 11:53 am

You can calculate it yourself and claim in your income tax return. No document needs to be submitted.

Reply

Shah February 8, 2014 at 9:08 am

I am staying with my in-laws, paying rent to them and also have own flat which is rented in near by locality. I don’t get HRA, would like to check if I can claim 80GG ?

Reply

Abhinav Gulechha February 8, 2014 at 12:14 pm

Dear Shah

Sorry, since you have own residential accomodation in nearby locality, you will not be able to claim deduction u/s 80GG as well.

Reply

A.ANBAZHAGAN February 9, 2014 at 10:41 pm

Dear sir,
If i pay rent at two places i.e one place where i am working and another one place where my parents are living ( rent is 1250 + 4500 ). shall i eligible for HRA exempt for my whole rent paid rs 5750 ? .

Reply

Abhinav Gulechha February 10, 2014 at 12:01 pm

Dear Sir

You can claim only for the house where you are staying and paying rent, not for your parents house, even if you are paying that rent as well.

Reply

Sachin Arora February 19, 2014 at 7:42 pm

Dear Abhinav,

In a similar case (A. Anbazhagan) of mine. I work in Mumbai during weekdays (Mon-Fri) & stay in a rented (Rs 84000 pa) house alone. But my wife & daughter live in Ahmedabad again in a rented (Rs 72000 pa) flat for which I pay rent. During every weekend (Sat-Sun), I go there and live with them.

In that case can I claim both the rents paid by me for HRA exemption?

Reply

anbazhagan February 10, 2014 at 9:57 pm

thank you very much sir

Reply

Abhinav Gulechha February 11, 2014 at 8:25 am

You’re most welcome and its my pleasure!

Reply

Mahesh February 10, 2014 at 10:44 am

HI,
I am staying in Hostel. There is no chane to submit rental agreement and receipts and pancard of landlord. In this situation can i submit the HRA as tax excemption?
My HRA is 8k per month. Can i submit total HRA meank 96K as tax excemption? As per your calculator it will be 72k.
Please suggest on it.

Reply

Abhinav Gulechha February 10, 2014 at 12:04 pm

Dear Mr. Mahesh

The wording in Income Tax Act is “residential house” so frankly I do not think you can claim HRA for your hostel stay expenses.

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Rachit Aggarwal February 11, 2014 at 5:24 pm

Hi, My HRA claim was rejected in company due to some resaon. Can i claim it while filing my returns.

Reply

Abhinav Gulechha February 11, 2014 at 6:54 pm

Dear Rachit

Can you tell me what was the reason? If it was a genuine reason, you cannot claim in your tax return.

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Rachit Aggarwal February 11, 2014 at 8:39 pm

Actually, my claim amount is more than 1 lakh and I failed to provide them the PAN no. of my house owner to company officials on time. However, Now, i have arranged pan card no. of my house owner so can i claim now,.

Reply

Abhinav Gulechha February 12, 2014 at 8:29 pm

Dear Rachit

You can claim in return, but you also need to provide PAN details to your employer so please do that..

Reply

Shah February 17, 2014 at 10:50 pm

Can I claim HRA while filing return? In case if my salary don’t have break up of HRA, can I still claim HRA deduction ?

Reply

Abhinav Gulechha February 18, 2014 at 9:50 am

Hi, I think you asked the same query earlier as well – let me clarify again, if you do not receive house rent allowance as a salary component, you cannot qualify for HRA exemption.

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Bhavya Venugopal February 18, 2014 at 12:07 pm

Hi Mr Gulecha!

Thank you for taking the time to write this. Sure is helpful! I’m glad i found this article, but I got slightly confused reading it.

Here is my problem: My salary is 20,000/- (basic pay 7,200/- & HRA 2,880/-). The actual rent i pay is 7000, (which is 4,120/- more than my HRA.) So what will be my deductible amount?

My HR Manager says that only 2,880/- is deductible. But according to this article, i don’t think she is right. Also, when you say 10% of the salary, is that total salary or basic salary?

In the example you cited above, the person get more HRA but pays less rent, so i got a little confused. please help me! :(

Reply

Abhinav Gulechha February 18, 2014 at 2:45 pm

Dear Bhavya

Thanks, I see that you are also a blogger, and checked your blog, and its very nice!

Coming to your query, your HR manager is right. Deduction will be Rs. 2880 p.m. and hence all of your HRA will be exempt. Also please note that exemption cannot exceed the amount you get as allowance. On your question of 10% of salary, its “basic salary” and not “total salary”.

Trust this helps. In case of any further clarification, please let me know.

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Bhavya Venugopal February 18, 2014 at 4:23 pm

Hi Mr. Gulecha!

Thank you for visiting my blog & for your kind words! :)

What I’m still unclear about is this: the actual rent I pay is 7,000/- a month (which is almost equal to my basic pay!), so why is only 2,880/- considered for deduction? The “basic” salary is fixed by the company, I have no role in it. The rule says that 10% of this “basic salary” can only be considered to calculate HRA. Then they should consider only the “basic salary” to calculate the income tax as well, i must say! I guess it is difficult to know why the system works the way it does! Looks very unfair to me :(

Thank you for taking the time to explain this to me though :)

Reply

Abhinav Gulechha February 18, 2014 at 4:59 pm

Yes Bhavya, what you said is logically right, but actually the way tax rules are made, is beyond comprehension…and HRA is nothing, if you see other rules like valuation of perquisites like car and all, they can be actually baffling.

But we have to just go by what the rules say. Good point you raised about “basic salary” – now, here, some progressive companies I know allow employees to CHOOSE proportion of basic salary as well – so in case someone selects a higher basic, he/she can get higher deduction, but well, the mandatory 12% EPF deduction will also be on the higher side.

So, its like this only and we have to work within these rules and extract the best out of it:) but yes, you’re most welcome and please let me know if you face any issues/ challenges on personal finance front, will be glad to help!

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Bhavya Venugopal February 18, 2014 at 5:58 pm

No wonder people are looking for ways to evade tax. Nobody wants their hard earned money to disappear unfairly without any logic or sense whatsoever… I sure don’t!

Will surely check with you for any finance related issues. Thanks again for your insight Mr. Gulecha! :)

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Abhinav Gulechha February 18, 2014 at 8:08 pm

You’re most welcome..thanks for reading!

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Amit Khandelwal February 19, 2014 at 8:43 am

Hi Abhinav,
I live at my brother’s place and I pay rent to him. The HRA guidelines of my employer asks for an agreement registered with the local registrar to avail the HRA exemption, if the property is owned by a relative. However there is no such mandate under the income tax act. I am suppose to stay for less than a year at my brother’s place and the cost of registering the agreement would get close to the entire amount of exemption I can claim throughout the year. What are my options?

Reply

Abhinav Gulechha February 19, 2014 at 10:03 am

Dear Amit

Asking for an agreement copy is your company’s policy and you cannot do much about it. However, you can claim HRA exemption at the time of filing your return. But before doing that, ensure following points:

1) Pay to your brother through cheque/ online bank transfer – so that the entry is reflected in your bank statement
2) Ensure that your brother declares this income in his income tax return
3) Retain some sort of receipts for rent payment each month with you – you need not submit it elsewhere.

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DrHaresh Mulani February 20, 2014 at 2:21 pm

My first four month salary is different and remaining month salary is different. Details are:
For first four Month:
Basic Pay: 16250 + Grade pay 6000= 22250
DA : 35 % of basic Pay = 7787
HRA 10% of basic pay = 2225

Remaining months

Basic Pay: 16920 + Grade pay 6000 =22920
DA : 35 % of basic Pay = 8022
HRA 10% of basic pay = 2292

I have done the calculation of HRA exemption as explained above and i found the value 27,236

Weather it is correct?
if wrong help me to correct calculation.

Reply

Sachin Arora February 20, 2014 at 3:15 pm

Dear Abhinav,
In a similar case (A. Anbazhagan) of mine. I work in Mumbai during weekdays (Mon-Fri) & stay in a rented (Rs 84000 pa) house alone. But my wife & daughter live in Ahmedabad again in a rented (Rs 72000 pa) flat for which I pay rent. During every weekend (Sat-Sun), I go there and live with them.
In that case can I claim both the rents paid by me for HRA exemption?
- See more at: http://sohamfp.com/house-rent-allowance/#sthash.qMyTcuOA.dpuf

Reply

Abhinav Gulechha February 21, 2014 at 2:27 pm

Dear Mr. Sachin

As per HRA norms, you can claim exemption w.r.t. house where you are residing so that way you can include rent for both houses for your calculation purpose, however, exemption will be available for the lowest value of all the 3 values. Trust this clarifies.

Reply

Sachin Arora February 24, 2014 at 11:20 am

Thank you very much Abhinav,

The 3 values that you are referring should be which ones, please help.

Regards
Sachin

Reply

Abhinav Gulechha February 24, 2014 at 12:59 pm

Dear Sachin

Thanks. Please read the post once again – I have mentioned those in the post – lowest of those will be the exempt portion of HRA and rest will be taxable.

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Skr450 February 21, 2014 at 10:18 am

Hi Abhinav,

I have a rental house ( registered under me & my wife) in Hyderabad. In house there are 3 tenants (salaried) staying. I am worried if I 3 of them use my PAN details to get benefit , if they use how it will affect me while filing the return. Can I give my wife PAN details for my tenants.

Thanks In Advance…

Reply

Abhinav Gulechha February 21, 2014 at 2:30 pm

Dear Sir

I assume you are showing the rent received from all three in your income tax return. In such a case, even if all 3 give your PAN to their respective employers, it will not be an issue. Ensure that you maintain proper documentation e.g. counterfoil of receipt that you issue for the rent receipt.

No, please dont give wife’s PAN details.

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Skr450 February 22, 2014 at 8:35 pm

Thanks Abhinav.. In my apartment a couple and his brother is staying, I am receiving rent only from head of the house among them, and if in this case all 3 of them cannot show rent paying to me. Only head of house to whom I am giving rent receipt can use my PAN. Am I correct. Thanks again :-)

Reply

Abhinav Gulechha February 23, 2014 at 5:10 pm

Yes you are right

Reply

Abdul February 24, 2014 at 11:46 pm

Dear Sir,

My salary is Rs.2,40,000/- per annum.
I am in non Metro city and living in a rented house.
I dont know about my HRA, since I have not seen pay slip.
My house rent is Rs-8000/ per month (Rs.96,000/- per Year)
In my company, they saying that they will deduct the tax. So if they deduct how much they will deduct and can you please provide me how to proceed with this.
Also Please provide me the steps for bringing the House rent into account.
If I bring house rent, then what will be the tax amount I have to pay.

Thank you in advance

Reply

Abhinav Gulechha February 25, 2014 at 10:55 am

Dear Abdul

You can claim HRA deduction if you receive HRA as your salary component, so please first check your salary breakup. If you do receive HRA, you can submit receipts etc. to employer and they should give HRA exemption to you. How much exemption you will get, check it through the downloable calculator I have provided in the post. In case of any issue, let me know.

Reply

Amit Khandelwal February 26, 2014 at 8:34 am

Hi Abhinav,
Thanks a lot.

Reply

Abhinav Gulechha February 26, 2014 at 11:15 am

You’re most welcome Amit…keep reading and be in touch!

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Ashish Pandey February 26, 2014 at 12:16 pm

Hi Abhinav,
I am a salaried employee. I received HRA from my company. I also made clain against HRA and it is reflected in my Form 16 for the year. Now my returns is opened for scrutieny and IT Officer is asking for proof of rent. This is for FY2010-2011. I had submitted all supporting document to my employer and currently I do not have any document with me. Please advice how I should reply to IT Officer.

Reply

Abhinav Gulechha February 26, 2014 at 1:49 pm

Dear Ashish

Did you submit originals of rent receipts to your employer? Did you not retain a copy for your records? Did you pay by cheque? In that case, your bank statement for that period would be reflecting the entries – check all these things. Also check if there is a rent agreement, if registered then all the more better.

If you have been paying in cash and submitted origianl rent receipts to employer, explain it to Assessing Officer honestly- he might ask you to get a signed letter from the landlord whom you paid rent, along with his PAN. you will have to do accordingly.

Reply

Ashish Pandey February 26, 2014 at 7:03 pm

Thanks for your help Abhinav.

a) Yes I have submitted originals of rent receipts to employer. and unfortunately I did not keep copy of records.

b) I paid House rent in two portions
i) Portion one –> 16500, mostly reflected in my bank account statement.
ii) Portion two –> 8000, I paid by cash on behalf of owner towards society maintenance.

That time owner gave me complete receipt of 24500 which i submitted to employer.
Due to fear of Income Tax, now owner is not cooperating and I am finding it difficult to produce proof of complete 24500.

Could you please suggest
a) what options I have?
b) In worst case how much tax and/or penalty i might have to bear.

I am extremely thankful for your help and advise.

Reply

Abhinav Gulechha February 27, 2014 at 10:58 am

Dear Ashish

As far as entries reflected in your bank statement, this will be a strong evidence of the payment. For payments not reflecting by way of entries, you can formally request in writing to your landlord that you need just the rent receipt for the amounts paid in cash to him, and retain evidence of sending this communication to him. After that, if no reply is received, you can put this across to Assessing Officer that despite your best efforts, you are not able to get a receipt from landlord, and original was submitted to the employer. Simultaneously, also put a formal application to your employer to retrieve the original receipt, as you need to produce to income tax due to scrutiny assessment.

After doing all this, it depends on the assessing officer what view he/she takes of the case. In the worst case, you will have to pay tax equal to 100% to 300% (depending upon the AO’s decision) on the amount of HRA claimed by you.

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suresh singh February 26, 2014 at 11:56 pm

Hi Abhinav Gulechha

assessment office which is employed by company to look into salaries and tax filing rejected my HRA proof. I missed to get a sign from house owner on one of the papers provided, so they rejected it. We have policy to claim it as PAN NOT AVAILABLE of owner even if rent is above 15k.

They had actually sent a mail following my investment proof submission, but since i did not check mail in time and did not respond with 3 days, my tax was calculated minus HRA.

is there a way i can still claim HRA ?
BR
Singh

Reply

Abhinav Gulechha February 27, 2014 at 11:02 am

Dear Suresh Singh

Yes please have a word with concerned person in that department. Tell them the issue that you will provide the rectified set of proofs in a couple of days, and ask them to adjust the HRA exemption while computing the March salary. If they do, thats great, but there is a chance that they can reject also.

Even then no problem. Just retain the correct proofs in your file, and when you submit income tax return, you can deduct the HRA exemption amount from the “Income from Salaries” as given in your Form 16 and then go ahead and file the return. To the extent you save tax on HRA, your overall tax liability will reduce or you will get refund.

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suresh February 27, 2014 at 7:39 pm

Thank you Abhinav, I requested them and they agreed to consider re submission. I appreciate your reply.

Suresh

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Abhinav Gulechha February 28, 2014 at 10:02 am

Thats great Mr. Suresh, glad to know. You’re most welcome!

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Kalpana February 27, 2014 at 8:28 pm

Hi Abhinav,

Can you pls help me. My HRA got rejected by my company. and now when I wanted to resubmit my docs again, they have freezed the process of proof submission. In this case, the Form 16 provided by company will not have my HRA deductions. So how can I mention HRA while filing IT return. What is the process for it.

Thanks in advance for ur reply.

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Abhinav Gulechha February 28, 2014 at 10:05 am

Dear Ms. Kalpana

There is nothing to worry. First try to understand why the company rejected your claim, are you actually entitled to the claim at the first place? If yes, you can deduct the exemption amount from “Income from Salaries” shown in your Form 16 at the time of filing the return and claim the exemption at that time..

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Amit Chauhan March 1, 2014 at 12:04 pm

Hi Abhinav,
Can I pay rent of Rs 9000 to my father staying in the same house on different floors along with my wife, and if my father shows the same income in his ITR, I hope it is the right way of doing it.
Secondly, do i need to submit the original rent receipts to my employer.
Thirdly, Is it compulsory to have a rent agreement with my father and is it compulsory to submit the rent agreement along with the rent receipts to the employer, or just the rent receipts will do.
Regards,
Amit

Reply

Abhinav Gulechha March 1, 2014 at 4:14 pm

Dear Amit

Pointwise replies as follows:
1) Yes, you can pay rent to father even if same flat different floors – your father has to show this income in his ITR.
2) Yes, whatever is your company’s policy, you have to comply with it (if they require original rent receipts, you have to provide them) – make sure you retain a xerox and keep in your file
3) No, for claiming exemption there is no compulsion in Income Tax Act to have an agreement etc. – in your case, it will even be impractical. In case your employer is OK with rent receipts, that will be great, but if they make agreement as a pre-condition to grant of exemption, then you can claim it at the time of filing the return

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hari hari March 3, 2014 at 11:42 am

Hi Abhinav,

I have not submitted my house rent slips or anything as HRA tax exemption as a result 25k has been deducted from salary of Feb 2014. Is there to get my back which is gone (i.e can i claim now for HRA tax excemption)

Thanks

Reply

hari hari March 3, 2014 at 11:45 am

Hi Abhinav,

Sorry for the typo.

I have not submitted my house rent slips or anything as HRA tax exemption as a result 25k has been deducted from salary of Feb 2014. Is there any chances to get my money back which is dedcuated (i.e can i claim now for HRA tax excemption)

Thanks
Hari.

Reply

Abhinav Gulechha March 3, 2014 at 1:16 pm

Dear Hari

Yes, no need to worry. First check with your employer if they can consider your submission now, and adjust in March salary. If not, you can do the following:
a) Retain the receipts at your end
b) Calcualate the HRA exemption as per the calculator given by me in the post
c) Deduct the HRA exemption from income from salaries as shown in Form 16 and show the resultant amount in your return – this way your tax liability will get reduced/ you will get refund.

Reply

hari March 3, 2014 at 1:55 pm

Thanks a lot Abhinav

Reply

Abhinav Gulechha March 3, 2014 at 2:24 pm

You’re most welcome. Do subscribe to our newsletter for regular updates:)

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sonika March 3, 2014 at 7:50 pm

I have claimed

I have claimed Rs 150,000 HRA from My Co. but the Actual HRA claim that I can get is Rs 200,000 as per caculation. I have only given receipts for 11 months, Can I claim the differential amount(Rs 50000 as last month rent amount along with proof) in Return and get the refund on excess on tax deducted as my Co.’s window is closed for any adjustments.

Reply

Abhinav Gulechha March 4, 2014 at 10:49 am

Dear Sonika

Yes, you can do so at the time of filing the return. Just ensure that you have calculated the HRA exemption amount correctly. HRA exemption does not simply mean the rent paid. Use the calculator I have given in the post and whatever diffrential amount of exemption that your company has not given you, you can claim at the time of filing income tax return.

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amit March 4, 2014 at 10:44 am

Dear Sir,

My file is opened for scrutiny for assessment year 2010-11, i showed a monthly rent of 30,000/- ,actually i was paying only 22000/- , now how can i submit the proof as in bank statements carry transactions only for 22000/- . What are my options.

Best Regards

Reply

Abhinav Gulechha March 4, 2014 at 10:54 am

Dear Amit

No option. I guess IT department will levy a penalty on the tax you have tried to evade by claiming wrong exemption (the penalty ranges from 100% to 300% of the tax amount evaded, on the discretion of the Assessing Officer)

Reply

Santosh March 4, 2014 at 4:36 pm

Dear Sir

I purchased a property at Vadodara in current financial year with SBI home loan.I got possession from november 2014 and I am staying here.
Till that I was staying in rented house(from march-2013 to Oct.2013).So can I claim for HRA for that seven months with Interest & principal amount claim.?

Reply

Abhinav Gulechha March 4, 2014 at 5:28 pm

Dear Santosh

Yes, you should claim HRA only for the 7 months you stayed on rent i.e. April to Oct (NOT for the full year) and from November onwards you can claim interest and principal payment for home loan as Loss from House property & under Section 80C respectively.

Also want to complement you for the foresight – not many people bother about it and they claim HRA for full year which is a dangerous mistake. If the case opens up for scrutiny, the IT department levies a penalty on excess HRA claimed.

Reply

Santosh March 4, 2014 at 6:17 pm

Thanks for your guidance.

Reply

Abhinav Gulechha March 4, 2014 at 6:44 pm

You’re most welcome. Dont forget to subscribe to our newsletter for regular updates:)

Reply

Rajesh March 4, 2014 at 9:31 pm

Hi Abhinav,

Thank you for the article. I have a query related to HRA exemption.

I was staying in rented house from May 2013 to Dec 2013. From Jan 2014 onwards I am staying in my new house. So total rent paid to the landlord is less than 1 Lakh (12,400 rupees * 8 months = 99200rs) in FY13-14. So I have submitted my rent bills without landlord PAN Number because the rent amount is less than 1 lakh rupees.

My employer (Big IT Giant) is come up with new formula of 8333 per month and if it is exceed 8333 per month rent then they are asking PAN number from landlord otherwise they are not considering the rent proof.

In my case, I only stayed for 8 months in rented house and monthly rent (12400rs) was paid exceeded 8333 rupees but it is less than 1 Lakh in the FY13-14.

Is there any rule called 8333 per month exists in IT Tax Dept.?

How I can avail my HRA exemption amount during IT returns filing?

Thank you so much for your time.

Thanks,
Rajesh.

Reply

Abhinav Gulechha March 5, 2014 at 12:06 pm

Dear Rajesh

Thanks for your query. I have checked the exact wording in Income Tax Circular 8/2013 dated 10/10/2013 – it says “annual rent” exceeding > Rs.1 lac – now it can be interpreted both ways, but if you ask my view, the view adopted by your employer is correct and I agree with it i.e. 8333/month.

You can simply calculate the deduction amount yourself and when you receive form 16 from employer, in the tax return you can deduct HRA exemption from that amount – automatically, your tax payable amount will be adjusted.

Note that since you were not living for full 12 months on rent, you will need to calculate the exemption month wise (take help from the calculator I have posted) – let me know in case of any issues.

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Rajesh March 14, 2014 at 4:41 pm

Thank you Abhinav.

Reply

Abhinav Gulechha March 14, 2014 at 5:50 pm

You’re most welcome:)

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Varun Gupta March 6, 2014 at 3:57 pm

Dear Abhinav
Presently i am staying in my parents house at Mumbai & giving rent of Rs. 12000/- to my parents, however 35 kms away i have my own house which is also co-owned by my parents, we have rented this flat & Rs. 8000/ – rent amount is being credited to my parents account. further last year in Aug’13 i was transferred to Gujarat however due to job my wife is still saying in mumbai & hence we are giving HRA to my parents.
Due to my transfer even i have to get a rented apartment in Gujarat at Rs 5000/. so below are my queries.

1. Can i claim HRA for both Mumbai & Gujarat apartments
2. Since i am the Co-owner of the house & rent is being received by my parents, do i need to show it under Income from property.

Reply

Abhinav Gulechha March 6, 2014 at 5:06 pm

Dear Varun

Even if you own a house, you are allowed under Income Tax Act to claim HRA exemption for rent paid by you ONLY IF you are staying at the place of rent due to your job/ business exigencies. In your case, Gujarat house you can definitely claim, but Mumbai please be sure why you are paying rent despite having own house in Mumbai – if you can prove that it is because its closer to your place of work, rent paid for Mumbai also will qualify.

Make sure that HRA exemption calculations are different for Mumbai and Gujarat, so please calculate accordingly.

As regards your second query, ideally you and your parents should show income in the in your respective returns as per the ownership share. So. if your ratio of ownership is 50%, you should show 50% of rent received as income as house property.

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Ramesh March 13, 2014 at 1:57 pm

Dear Abhinav,

Can you please help me calculate the exemption with Basic = 32775, HRA = 11640 and I am paying 19000/pm as rent?

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Abhinav Gulechha March 13, 2014 at 2:41 pm

Dear Mr. Ramesh

I have explained it in detail in the post along with a calculator, please check.

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Krupa Oza March 14, 2014 at 3:37 pm

Hi, i need to file return filing for 12-13 and have got form 16A from 3 company’s where i worked. please help me out with the details to be filled in…bcos m getting confused in filling details for HRA..

Reply

Abhinav Gulechha March 14, 2014 at 5:53 pm

Dear Krupa

You dont need to do anything for HRA – assuming you are doing e-filing, just sum up the “income from salaries” as per the form 16 received from all the 3 companies and show it as “income from salaries” in your return.

Any queries let me know.

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Azim March 14, 2014 at 7:30 pm

Hi,

Hi,

My employer has rejected my HRA due to incorrect PAN i had entered in the system. Now since the cut off date has ended and i am sure i will pounded with heavy tax now. To claim my tax Can i include the HRA while filing the returns?

if Yes then what documents are needed while i file ITR and any extra form to fill?

Reply

Abhinav Gulechha March 15, 2014 at 5:51 pm

Dear Mr. Azim

First tell your employer to update correct PAN in records, if they are crediting TDS in wrong PAN, you wont get credit of TDS in your income tax return, due to which you can get a demand notice from IT department, which can be a far bigger issue. Also check your Form 26AS, whether the tax credit is reflected properly or not – read my recent post on this topic

As regards HRA,dont worry, you can deduct the exemption amount from the income from salaries as given in Form 16 and show that amount in return – no need to submit the proofs anywhere just retain the receipts in your income tax file.

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Azim March 17, 2014 at 7:39 am

Thanks Abhinav

Thanks Abhinav

The part of PAN i meant i had entered my Landlord’s PAN incorrect in the system hence my HRA was rejected saying it is Invalid. Now that you have confirmed i don’t need to submit any proof while submitting ITR, i am hoping i will get my refund by submitting the HRA in ITR.

Thanks again.

Reply

Abhinav Gulechha March 17, 2014 at 9:53 am

You’re welcome!

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Priyam March 21, 2014 at 2:08 pm

If an employee is working in Bangalore(staying in rent) and his family is based out of Chennai(staying in rent), can he claim HRA for the rent he is paying in Chennai or only for Bangalore or can he claim for both?

Reply

Abhinav Gulechha March 21, 2014 at 4:12 pm

Dear Mr. Priyam

The Income Tax Act is silent on this. It just mentions “rent” – so, in my view, one can take liberty to include rent of both places, provided rent for both places is actually paid out by you.

Only small confusion will be how to calcualate the exemption – because if its a metro (chennai), first parameter is 50% of basic whereas if it is chennai, it is 40% of basic….

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Priyam March 22, 2014 at 12:20 pm

Thank you Mr. Abhinav

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Priyam March 22, 2014 at 3:14 pm

I have one more query. For deduction under U/s. 80U for disabled persons, can a disabled employee submit certificate to the Employer and get exemption or it has to be done by him separately at the time of filing returns?

Reply

Abhinav Gulechha March 22, 2014 at 7:25 pm

Dear Priyam

Both can be done. Either the certificate can be submitted to employer or if this is not done/ employer does not take it into account, the deduction can be taken at the time of filing the IT return, in that case certificate need not be submitted anywhere.

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Abhinav Gulechha March 22, 2014 at 7:23 pm

You’re most welcome Priyam!

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shobha March 22, 2014 at 10:40 pm

This is regarding my frds problem..she gets salary income of 9,00,000 with HRA of 1,70,000, stays in rented house , claims HA excemption of 99,000, &1,00,000 u/s 80 c,..she also get rental income of 7,20,000 , pays 15,000 property tax.so what is the income tax caluculation for her? can she claim HRA as she own house in same city but rented out for above amount?

Reply

Abhinav Gulechha March 23, 2014 at 12:10 pm

Dear Shobha

As regards income tax computation, kindly get in touch with a CA or google for an income tax calculator, that will help. As regards your second point, YES both HRA can be claimed and rental income can be shown – also, if loan was taken for the house, principal and interest deduction can also be claimed along with HRA.

Reply

priyanka March 26, 2014 at 3:53 pm

I had one query and would be grateful if it could be answered.

I am eligible for HRA exemption of about Rs 2lacs and want to claim an exemption of Rs 1lac.

However since I was travelling i was not able to submit my rent receipts on time to my company and hence they have not computed it.

Is there any way I can include this while filing returns ? Since I have not submitted the receipts will it be included in my form 16 ? can I still take benefit out of this ?

Please respond and help.

Thank you so much.

Reply

Abhinav Gulechha March 27, 2014 at 10:42 am

Dear Ms. Priyanka

Dont worry. YES You can claim it at the time of filing the returns. You can simply deduct HRA exemption amount from “Income from Salaries” as shown in form 16, and show the balance amount in the tax return.

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r.sampath March 27, 2014 at 12:46 pm

Dear Sir,
I am employed at pvt. concern. due to financial crisis in my company, i have received only 8 months salary
for fy 2013-2014.

my question is, how can i claim the house rent exemption for 12 months (because i am paying house rent every month for whole year). as per the directives of my company sources, they will consider the
hra what they paid (i.e 8 months hra) only taken for calculating hra exemption. this will reduce the hra exemption, because the rent paid is more than hra paid.

they will plan to pay the 4 months unpaid salaries in next financial year.

i request you to give reply and hope that this will help many employees in my organisation.

R.Sampath

Reply

Abhinav Gulechha March 31, 2014 at 12:49 pm

Dear Mr. Sampath

Sorry for delay in reply. As per the provisions of Section 15 of Income Tax Act, salary is to be taxed on due or receipt basis whichever is earlier. So, ideally, even if you are not receiving 4 months salary, it should be included in your return for this year, and taxed in this year, as it has become due this year. In this situation, full 12 month HRA and rent paid will be taken for calculation.

However, if your company is taking the interpretation that it is taxable on receipt basis, only 8 months salary can be taxed in this year, and rest 4 months salary will be taxed in the year when it is received. So, for this year, you will be able to claim exemption only on the 8 months HRA and not full 12 month HRA. Rest 4 month HRA you can claim when you get arrear salary for 4 months and in that financial year, you can also claim relief u/s 89.

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r.sampath March 31, 2014 at 5:48 pm

Dear Sir,

Thanks for your reply. I am sure, it will be useful for all employees of our concern to claim relief when they will get the arrear salary.

Regards
R.Sampath

Reply

Abhinav Gulechha March 31, 2014 at 6:37 pm

Thanks Mr. Sampath, you’re most welcome. I will also be shortly writing a post on how to calculate relief u/s 89..

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Swapnadip Halder April 1, 2014 at 1:40 am

My tax was deducted without hra exemption as i did not submit the rent receipts. I have hra as part of my salary. Can i take the refund from my employer before form 16 is generated or do i have to wait for tax return filing.

Reply

Abhinav Gulechha April 1, 2014 at 12:01 pm

Dear Swapnadip

No, you cannot ask for a refund from employer as tax is already deducted. What you can do is to deduct HRA exemption amount from salary income as shown in Form 16 and show only net figure in your tax return. As a result, your tax liability will be automatically adjusted and refund due will be paid to you.

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Kumar April 5, 2014 at 12:29 am

i live in my own house and work in mumbai, but i also travel frequently to delhi and stay at my parent’s place. Can i claim HRA by actually paying rent for the place in delhi to my parents?

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Abhinav Gulechha April 5, 2014 at 1:30 pm

Dear Kumar

Do you ACTUALLY pay rent to your parents for visits to stay with them? If not, the question does not arise. Even if you do, since visits are not for work purpose, exemption cannot be claimed. Trust this clarifies.

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Unnati Shah April 13, 2014 at 10:27 am

Hi Abhinav,

I pay rent to my mother through HRA. She is 59 years old. Is the rent she receives fully taxable? Or there is some exemption to her?

Thanks.

Reply

Abhinav Gulechha April 14, 2014 at 1:52 pm

Dear Unnati

It will be included in your mother;s income. However, it will be taxable only if your mother’s total income for the year from all sources exceed Rs. 2 lacs.

Reply

unnati shah April 14, 2014 at 4:39 pm

Say if the income exceeds 2 lacs is there some standard exemption? As I read on some other example that there is 30% exemption to HRA received by father and the remaining amount is then taxable. Just need to clear my doubt on this.
Thanks in advance.

Reply

Abhinav Gulechha April 15, 2014 at 1:07 pm

Dear Unnati…

If total income exceeds Rs. 2 lac, then it amount till 5 lacs is taxable @ 10, further Rs. 5 lacs is taxable at 20% and after that, taxable at 30% – this is the tax slab.

About 30% exemption you are talking about, it must be the 30% standard deduction from net annual value to arrive at the “Income from House Property” – that means, from whatever rental income your father/ mother shows in their return, it will be Net annual value from such property and from that a fixed deduction of 30% is available – balance is income from house property that he/she has to show in the return.

Trust that clarfies.

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GAURAV GUREJA April 15, 2014 at 9:33 am

MY WIFE IS EMPLOYED IN A PRIVATE COMPANY.HER WAGE SLIP STATES NO. OF DAYS WORKED AND GROSS PAYABLE WAGES.CAN SHE CLAIM HRA UNDER 80GG AND IF SO WHAT DOCUMENTS SHE IS REQUIRED TO HAVE IN ORIGINAL FOR IT RETURN.SHE HAS MONTHLY INCOME OF 20000.WE ARE PAYING RENT OF 10000.WE HAVE JOINT RENT AGREEMENT WHICH IS NOT REGISTERED AND WE ARE PAYING RENT IN CASH AND DONOT HAVE RENT RECEIPTS

Reply

Abhinav Gulechha April 15, 2014 at 1:30 pm

Dear Gaurav

First check whether your wife gets HRA as part of salary – if yes she has to claim HRA deduction. If there is no HRA, she can claim 80GG deduction provided she pays the rent from her income and has a declaration in Form 12BA signed and kept with oneself for later on producing to AO. Ideally if she is planning to claim deduction, rent receipt must be maintained as proof of payment of rent but no document needs to be provided to IT department at the time of filing the IT return. Joint unregistered rent agreement and paying rent in cash is OK.

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Pratap Konda April 17, 2014 at 1:30 pm

Hi Abhinav,

a) Can a husband and wife claim for HRA from the same house rented? b) Considering both of them working for different private companies? c) if the answer is yes, can the claim be 50% or 100% of HRA applicable to them as per their HRAs?

Lastly, I would like to ‘Thank you’ for the commendable work you are putting through by going through each and every question and responding to them in detail and in person. Its really Laudable ‘Hats off’!.. for the effort and work you are putting through.

Reply

Abhinav Gulechha April 17, 2014 at 3:10 pm

Dear Pratap

Pointwise reply to your questions as follows:

a) Yes, provided both are contributing for it
b) Thats OK, no problem if working for separate companies
c) Both spouses can claim 100% HRA each as per their company policy subject to the exemption limits laid down under Income Tax Act and explained by me in the post…

trust this clarifies. helping people on proper financial planning is my passion and your appreciation takes my commitment to a higher level. Share your queries at contact@sohamfp.com and dont forget to subscribe to my newsletter.

Reply

Pratap April 17, 2014 at 3:21 pm

Abhinav,

Thank you very much..

Pratap

Reply

Abhinav Gulechha April 18, 2014 at 12:40 pm

Most welcome Pratap!

Reply

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