×
  

Continue to LawRato.com with Google


Continue

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 Kapil Chandna
Patiala House Court, Delhi
6 years Experience
Advocate Manish G Varma
Fort, Mumbai
16 years Experience
Advocate Athar Amaan Hava
Juhapura, Ahmedabad
13 years Experience
Advocate Rohit Ranjan Sinha
Pur Pundag, Ranchi
10 years Experience

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

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 Divorce 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 book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Similar questions

My father in law purchased two flats in name of my wife. Now, he want to sell both property and intend to receive sale proceeds in joint bank account …

Read More

Hi, My company have made landlord's PAN card as mandatory though my rent is less than 1 Lakh per annum. So, I can't claim HRA and again filing…

Read More

I sold my property in Bangalore in April 2014, to a highly respected Chartered Accountant. He deducted 20% TDS but did not deposit it with Govt. I use…

Read More

My problem is negative sign in ITR online submission of the same along with misclassification of RPF refund as other income by CPC Bangalore as is cor…

Read More

Get free assistance for your legal issue