Need help in filling ITDeclaration form

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ashish

ashish

Forerunner
I joined a co. in November 2015.

Before that for 2 years I was jobless for personal reasons.

Yesterday my current co. gave me a IT Declaration form for filing.

My salary is 5lacs p.a. and I have LIC policies but everything is paid by my dad and he has shown the same in his IT declaration. Thus he gets the exempt.

I got no other insurance or medical claims etc. but what I can show is my rent receipts/agreement.
My house rent is 11.5k/month. The agreement was renewed in November 2015 itself. And we are staying in this same house for past 5 years.

So how am I suppose to show it exactly in the IT form?

My colleagues suggested to show for next 12months which comes to Rs. 1,38,000.00 /-
whereas rent agreements are always for 11 months and this one didn't started from March/April 2015 even though we were staying at same place but paying 10.5k rent/month.

So help me put the proper amount in House rent bracket:
upload_2016-3-1_12-39-22.png
 
Criminal said:
- you need to submit rent receipts from Nov 2015 to Mar 2016


- you need to put whatever amount you paid as rent for the last 5 months (Nov 2015 to Mar 2016)
Click to expand...
So you mean from Nov-15 - Mar 16 means:
11500 * 5 = 57500/-

My landlord never give any such receipts (never we asked or were given receipts) by any landlords till date when we shifted nearly 3 diff. homes in past 8 years.

Also in the IT form I posted, it says receipts are optional i.e. we can submit rent agreement.
 
You can claim HRA max 40% of your basic salary for non-metro and 50% for metro cities.

Most people manage with fake medicine bills.
So your 15k is saved.

You may try Mutual funds that give tax exemptions.
But they will have lock in periods of 3 years and more
 
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Your income from Nov 2015 to Mar 2016 will be considered for tax assessment this year assuming you have no other income source.

If your package is 5 Lac, monthly income should be anywhere from 35~40k based on your package structure.

Even at 40k, income for 5 months is 2 Lac which would be exempted.

You can claim HRA exemption (in case you have taxable income) if you produce rent receipts on your name + PAN Number of land lord (since your rent > 8333/month)

You cannot use any document that is not on your name. There may be some exceptions like PPF accounts opened on kids name till they are minors.
 
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