Good news for salaried employees in these cities as they can get higher HRA exemption; disclosure of relationship with landlord a must as Income Tax Rules 2026 notified

New Income Tax Rules, 2026, offer higher HRA tax exemptions for salaried individuals in eight major cities, including Mumbai, Delhi, and Bengaluru. A key change requires disclosing relationships with landlords in Form 124, especially for family rentals, to ensure genuine transactions and enhance transparency for tax authorities.

from Tax-Wealth-Economic Times https://ift.tt/Uto07a6