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Tax Saving Tips - House Rent Allowance Calculation in Income Tax 

Finforall by Jupiter
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Let’s increase our financial literacy!
In this video, our host explains what does it mean to pay Rent to our Parents and how can we save tax.
If you want to check out any particular areas of the video, feel free to forward to the below time-stamps:
00:00 - Introduction
01:06 - What is House Rent Allowance
01:22 - Tax Deduction & Tax Exemption
02:25 - Example
04:15 - Will Parents pay Tax on the Income?
05:35 - Should I pay Rent to my Parents?
06:40 - Don't miss this one.
Credits:
Researched, Scripted & Hosted by: Aditi Khandelwal
Video Editor: Ritesh Parihar
Subtitles by: Tania Ngariyambam
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14 авг 2024

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Комментарии : 51   
@MillionsbyJupiter
@MillionsbyJupiter 2 года назад
00:00 - Introduction 01:06 - What is House Rent Allowance 01:22 - Tax Deduction & Tax Exemption 02:25 - Example 04:15 - Will Parents pay Tax on the Income? 05:35 - Should I pay Rent to my Parents? 06:40 - Don't miss this one.
@Nexatek
@Nexatek 2 месяца назад
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
@rkbbhatia9679
@rkbbhatia9679 Месяц назад
You dint inform important thing while filing itr which option they need to select (let out property, deemed to let out or self owner ) while shwoing this rental income from their kids ?
@yakshitchhabra9781
@yakshitchhabra9781 2 года назад
Finance smartly explained by financially smart Aditi , great job👍
@MillionsbyJupiter
@MillionsbyJupiter 2 года назад
Thank You, Yakshit 😊
@mohitthakur6609
@mohitthakur6609 2 года назад
Great Video, I have one doubt, Last Year I have bought a home (the owner is my mother) we have taken a home loan (co-share mom, dad & me). I have taken a rebate on a home loan (80C 1.5L & 2L on interest). Can I pay rent to my mom(as she is the only owner of the house) and show it as an HRA with home loan rebate on same property is it the valid case?
@bhavyagupta6140
@bhavyagupta6140 Год назад
No you cannot take deduction of interest even if you repay the loan Because house is not on your name.
@Asifraidenshorts
@Asifraidenshorts 2 года назад
I appreciate Jupiter and team for delivering good informations for people,and do it for ever all the best
@MillionsbyJupiter
@MillionsbyJupiter 2 года назад
Thank You Asif 😀
@Cricketvilla31
@Cricketvilla31 2 года назад
That was perfectly explained.. Thank you for making such amazing videos.
@Nexatek
@Nexatek 2 месяца назад
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
@suhasgali4796
@suhasgali4796 Год назад
Perfect, this is what I wanted.. Thank you mam
@akshatpal8343
@akshatpal8343 2 года назад
2:33 Is Special Allowance Fully taxable? Can we get tax benefits for Special Allowance?
@rachanasarpotdar7900
@rachanasarpotdar7900 Год назад
We have a rent agreement but the owner is not ready to give the rent receipt. PAN is not required as the claim is 8k per month..what should we do?
@KRISHNAKHANDELWALBEM
@KRISHNAKHANDELWALBEM 2 года назад
Nicely covered all the point Aditi 👍
@Nexatek
@Nexatek 2 месяца назад
What’s the max rent I can claim? My max rent limit is 77k per month as per my salary. Nearly 9.2 lpa, can I claim the entire 77k per month? Also the actual rent-worth of the home is around 15k per month..
@anujjadhav2771
@anujjadhav2771 14 дней назад
I also have the same doubt
@akashranjan2662
@akashranjan2662 2 года назад
Please reply me. I have this doubt for long time. Kya hum Parents ko rent cash me pay nahi kr sakte ? Mere Employer ne jo sample rent receipt diya hai usme Cash option bhi hai Mode of Payment me aur kahin koi option nahi hai select krne ko ki Parent ko rent de rahe hain ya kisi aur ko.
@subisw
@subisw 2 года назад
Great!... All this information are very important.
@navkarjain2175
@navkarjain2175 2 года назад
Mam, what will be the value of DA forming part of the salary in HRA calculator?
@ay-by9qs
@ay-by9qs 2 года назад
My family(parents) and I live on rent together, so if i pay rent ,will that be exempted from tax??
@kapilthakkar7090
@kapilthakkar7090 2 года назад
Mam, is it legal to pay rent to Parents as per IT rule? Can IT department take any action in future, if we pay rent to our payment. Note that we are paying them rent by bank transfer..
@asaddimtimkar7544
@asaddimtimkar7544 2 года назад
What if the parents are retired but we all stay in rented house..then in this how to pay rent to parents any solution regarding this scenario.
@vijayravi4540
@vijayravi4540 Год назад
Does it cause problem , if we mention both of our address is same
@JayPatel-uu2ix
@JayPatel-uu2ix 2 года назад
Hi nice video. One question payment made to bank which joint acct with son will that be accepted...?
@anilsonkar5554
@anilsonkar5554 2 года назад
Can I pay with bearer cheque...if mother account not exist?
@Jay-vl6ew
@Jay-vl6ew 2 года назад
Very perfectly explained
@harieshgorrle6726
@harieshgorrle6726 Год назад
Is the notary compulsory on Agreement.?
@TheReal8767
@TheReal8767 Год назад
Well explained.
@ashishaggarwal1519
@ashishaggarwal1519 Год назад
Hello, I am paying monthly rent of Rs 12000 in cash to my parents but I have not declared it anywhere and no agreement as well. Is there a way now to avail HRA exemption?
@sanatani9478
@sanatani9478 16 дней назад
Bro u can save around 8k as no PAN or landlord information is required in such case.... So so rent less then 1L in a year by that u can save....
@charnkamal1991
@charnkamal1991 Год назад
excellent video
@manishsinha5670
@manishsinha5670 2 года назад
Excellent video.
@anusharacer
@anusharacer Год назад
In rental agreement our permanent address and parent's will be same right? So will there be any issue?
@vijayravi4540
@vijayravi4540 Год назад
Yeh same doubt , did you get answer
@anusharacer
@anusharacer Год назад
@@vijayravi4540 No issue I believe
@iosaroj
@iosaroj 2 года назад
If my parents income is leass than 5L after I pay rent to them and they are not salaried, do they still need to file ITR ?
@prasad19Dec
@prasad19Dec 2 года назад
Nopes..If the tax slab is 0..then how come..surely not
@arunbabool3263
@arunbabool3263 Год назад
Intelligent person
@abhishekm1361
@abhishekm1361 2 года назад
Can we claim HRA if I pay rent in cash to my owner?
@prasad19Dec
@prasad19Dec 2 года назад
Nopes. Clearly mentioned in video.
@saurabhnagarkar654
@saurabhnagarkar654 2 года назад
Informative video
@MillionsbyJupiter
@MillionsbyJupiter 2 года назад
Thank You Saurabh 😊
@prashantrane9460
@prashantrane9460 2 года назад
Mam muze bataye mera Pitaji ne flat kharida tha usme muze unhone co owner rakha tha jab me college ki padhai kar raha tha.... Abhi mere Pitaji expired ho gaye hai.... Me abhi married hu..... Meri wife job karti hai... To please bataye kya meri wife meri Mataji ko rent pay kar skti hai kya for tax benefit ? Please Mam bataye
@MillionsbyJupiter
@MillionsbyJupiter 2 года назад
If your mother is co-owner, then your wife can pay rent to your mother.
@suranjankhatua802
@suranjankhatua802 2 года назад
aap e SM session m gaye the kya??
@aditikhandelwal
@aditikhandelwal 2 года назад
Yes 🙌
@hetulsharma3248
@hetulsharma3248 2 года назад
Informative video but ,, the other anchor were good ,, her deliverys and charm on the face was different….. please bring her back🌹
@satya121100
@satya121100 Год назад
Can you speak in one language either in hindi or english. It's irritating to listen when they both combined
@prasad19Dec
@prasad19Dec 2 года назад
Good one aditi, loved watching! As i said. On Insta 😇😎
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