Tuesday, July 25, 2023

Claiming HRA exemption on rent paid to spouse? New I-T regime will end this game of truth or dare.

The Income Tax Appellate Tribunal (ITAT) in India has allowed a house rent allowance (HRA) deduction of INR369,000 ($5,172) which was previously denied by the Income Tax Office. The payment was made to the appellant's wife, who owns the property in question. Although nothing physically stops salaried taxpayers from claiming HRA exemption for rent paid to relatives, tax officers are examining the authenticity of such claims.

from Tax-Wealth-Economic Times https://ift.tt/0Uo51Cg

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