Some people create false rental supporting documents and try to claim the HRA tax exemption. False supporting documents can be taken by the income tax officer and you may have to pay penalties with the income tax due. Select the reason below and click the Report button. This will warn our moderators to take action You must pay the TDS fine if you do NOT withdraw TDS, which is interest of 1% per month. This penalty is increased to 1.5% per month if TDS is deducted but not filed with the Income Tax Office. No, it is not possible to claim HRA if you live in your own home. Look at one person`s scenario, Mr. Bhaavesh. An annual rent of Rs 1,00,000 corresponds to Rs 8,333 per month – so if you rent a house and make a payment of more than 8,333 per month – consider receiving the PAN from the landlord, or you may lose the HRA exemption.
Yes, both can be used. The subsidy for renting a house has no influence on the deduction of interest in the loan for the construction of housing. . . .