Rent receipt sufficient to prove payment of tax or filing of tax


Recently I've given my flat for rent. The licensee has Request to acept rent by cash monthly and issue rent receipt. Is it ok to take cash and issue recipet for tax filling and hope there will be no litigation arising whatssoever legally. Is rent recipt sufficient to prove payment for tax and legal purposes


Answers (2)

It's depned upon you amount ? How much amount you are receiving in cash ?? Which type of rent receipt he want? You have answered this question then I will guide you on this
Such rent income comes under income tax act 1961 so while doing yours yearly income tax return..


Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

From your query understand that you have rented a residential flat for residential purposes and there is no ongoing litigations hence giving reply accordingly
Cash or bank transfer doesn't matter as long as you are paying appropriate taxes and the same is accurately reflected in your Returns.
When I say taxes I mean only income tax as GST is not applicable on Renting of immovable property for non commercial purposes.
Just ensure that the rent receipts, registered agreement and your income tax returns have same figures, there should not be an issue.

Popular Tax Lawyers

Advocate Saifuddin Saifee
Maharani Road, Indore
18 years Experience
Advocate Bala Janaki
330 Thambuchetty Street, Chennai
34 years Experience
Advocate Barkha Bhalla
Banjara Hills, Hyderabad
16 years Experience
Advocate Rohit Ranjan Sinha
Pur Pundag, Ranchi
11 years Experience

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Tax Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.


"LawRato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

Similar questions

My father deposited more then 10 lakh in my saving bank account in 2015 nd now i have IT notice for the same..what to do now?…

Read More

What will be the base year for a house built 80 years ago? If this house is sold for 2 crores -by person having nil income - is he still liable for ca…

Read More

Is there any tax liability on gifts that I receive from my friends?…

Read More

I am a PSU employee. For AY 2013-14, I had paid self assessment tax( on bank intt) of Rs. 7075 online under Major head 024 & Minor head 300 in Jul…

Read More