In this article, TurboTenant explores what rent receipts are, how different cities and states legislate them, the importance of integrating payments with property management software, and more to ...

Your rent payments are probably not deductible on your personal taxes unless you live in a state that provides a tax credit for renters. But if you own a home-based business, a rent receipt is a must.

With just days left before the March 31 deadline, now is the time to review your tax obligations and make necessary adjustments. Taking these steps can help you save taxes legally, avoid penalties ...

Income Tax Return (IT-Return) involves submitting the corresponding income tax form to the relevant tax department.

Q: My tenant wants to pay her rent each month in cash, which is OK with me. However, she wants me to give her a receipt. Do I have to give her a receipt just because she pays cash? A: Yes. The ...

Income Tax Department informed that there is no special drive to re-open cases of mismatch, and media reports alleging that large-scale re-opening is being undertaken by the CBDT are completely ...

When obtaining a rent receipt, it is crucial to include specific details like the date of payment, the landlord's name and address, the tenant's name, the paid amount, and the rental period. While ...

The correct form for assessment year 2024-25 depends on the level of your income and a host of other factors. ... House Rent Receipt: Required if you are claiming house rent allowance (HRA).

If you have paid rent of less than Rs 36,000 in a year or Rs 3,000 per month, then you can claim HRA even without a rent receipt. The Income Tax Department does not ask for any document for this.

Tax officials say the department may now look for proof to cross-check whether the address mentioned in the ITR form is the same as the property on which rent is paid. Needless to say, any such ...