Hi, I was in same situation as you and the rent amount was also the same :P Yes all you need is the rent agreement with your name on it and individual rent receipt for any one month. This much usually suffices. Most companies accept this for HRA exemption.

Hi, For tax deduction on House Rent, is rent agreement copy a valid enough proof or rent receipt is also needed. If rent receipt is needed, is it needed for all months or only for one month is enough. More Details : We are 3 bachelors living in 3BHK giving a rent of 16500 i.e. Rs. 5500 each. The rent...

Q :HOW MUCH MONEY IS DEDUCTIBLE FROM TAX LIABILITY IF INVESTED IN TAX SAVING FUND? Answer :The amount invested in say, ELSS, or insurance premiums or any other instrument which is permitted under Sec 80C (up to Rs.1 lakh); the exact amount is deducted from the income. So, the amount of tax liability...

Dear Customer, You can file ITR-2, as the income from rent falls under the head "Income from house or property". Please refer to this summary table: http://www.investmentyogi.com/cs/blogs/taxes/archive/2009/06/04/which-form-should-i-file.aspx Also, your rental income would be taxed under the...

if one wants to do mba from uk,is it advisable to go for educational loan or pay the fee,if one can afford it? will the parent be benefitted from some tax relief? the only concern is high intrerest rate if one goes for a loan.

Hi, I joined my present job on 28th April 2008. I've the F-16 for 28-04-08 to 31-03-09. I've put all the information in the Taxyogi forms. Yet, I'm not able to file my returns. The web page cryptically says "Needs action". I think this is due to the time during 01-04-08 to 27-04...

Q. I am employed in UK and pay tax here. Do I have to pay additional tax in India for my earnings in UK?

This could happen to anyone. Suppose you switch jobs, from a smaller organisation to a much larger company, with a huge jump in salary. The hike has you ecstatic till pay day. For, that's the time you find a huge chunk of your 'hefty' salary missing. It has gone as tax and into the Provident...

Dear Jignesh, The amount can be transferred to NRE/ SB account. The type becomes irrelevant if one has gone there for a short period of time (Normally NRE account is opened so that the amount can be repatriated back to the country of current residence). Since you are a resident of India, your salary...

16. In respect of HRA, the least of the following is exempt from tax u/s 10(13A): (a) 40 per cent of salary (50 per cent for Mumbai, Kolkata, Delhi and Chennai). (b) HRA for the period the house is occupied by the employee. (c) The excess of rent paid over 10 per cent of salary. An employee living in...