{ "media_type": "text", "post_content": "Hi friends, I'm planning for 2lakhs rent per year for tax declaration. Shall I provide my mother's pan card for the proof submission???\n Are they cross verify the pan card???", "post_id": "628f409ed37da3002033b7e6", "reply_count": 49, "vote_count": 3, "bowl_id": "615ca1dd3ad8710025ac6f01", "bowl_name": "In Hand Salary Calculation👍", "feed_type": "bowl" }

Hi friends, I'm planning for 2lakhs rent per year for tax declaration. Shall I provide my mother's pan card for the proof submission???
Are they cross verify the pan card???

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It's valid to pay rent to parents but just ensure you file ITR for your mother as well and declare this as an income in her ITR. If her overall income including this falls within tax free bracket, it's a win-win situation and legit too.

Just a small query.

If I show the HRA paid to Parents but am not actually paying rent to parents so will ITR folks question on it.

Eg suppose In my tax declaration i am showing HRA paid to father is 98000 yearly without pan. But not actually paying that amount is it still ok to do so

Yes It's fine

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I'll tell one secret. .... Create a story that you stayed in 2 different houses and payed 98k each... No need to submit any proofs or pancards...

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No problem in paying rent to parents and giving their pan details

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ITR filing is mandatory if income (before deduction) is above 2.5L ( 3L for senior citizen).
Of course, income tax department may not worry about such low level tax payers, but it is always better to file ITR if you have pan card.

If rent is over 1lakh per year, you have to share Pan card. This will add as income to your mother yearly. But if it makes your mother's annual income in the tax bracket, she has to pay taxes accordingly.

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The tax rules apply for senior citizens too, however senior citizens get some tax benefits which can be availed.

I am working from Hyderabad. My parents live in different city. Still can I show rent receipt of paying rent to my parents?

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If only that property belongs to your parents. However, if the rent is less than 96000 pa then you don't have to worry about it. Hope this helps!

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My mother is house wife do we still need to file ITR for her I don't think she has ever done that and rent paid amount is just way below 2.5 LPA

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Google the benefits of filing ITR.

Any rent above 1lakh per year , needs PAN of landlord and also landlord needs to file ITR

helpful

What if i get 2 landlords and state 48k 48k each. Do landlords also need to pay rent in that case ?

For example your hra is 500000 as per salary structure, the max hra you can claim non taxable is 140000. So it's better to claim 100000 as max without any pan details.

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If rent is 20k.. which is 240000-10% basic.. ,240000-100000- 140000.. this is how you got to it ?

Yea they do for sure

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But we can pay rent to our parents.

It's a good option to save taxes as a family provided you share the pan details and file timely ITR for your mother.
But not sure if the amount is too large to show or not.

Should we also need to have rent agreement with mother ?

Rent agreement doesn't mean anything. For showing proof you gotta submit payment receipts.
However if you're simply doing a declaration, then an agreement can be used.

You have give rental agreement since it is more than 1 lakh and also your parents are liable for tax if you give them when you file ITr so it’s the same thing all around

Thanks.. if mother is housewife.. then it we can save tax a bit..

helpful

We can pay rent to parents

What all documents needed

1) rent agreement 2 receipts 3bank statement of rent paid.,
Anyother doc needed ?

To all who are helping here, we can use the mother's pan card only when mother is having a property registered in her name?

By logic thatz correct!

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If we put 8k as per month rent , it would be 96k. 96k-100000(10%of basic). Just 4k. So I'm a claiming tax for only 4000 or for the 96000??

It is better if you transfer amount to your moms account and also fir ITR that ways if some how tax scrutiny comes you can prove the deduction

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