Speed Khabar
A circular issued last month by the Central Board of Direct Taxes (CBDT) has mandated that tenants will have to produce their house owner’s Permanent Account Number (PAN) for house rent allowance (HRA) exemptions of Rs 1 lakh or more annually, which works out to a rent of Rs 8,333 or more monthly. In other words, if paying a monthly rent of more than Rs 8,333, you must furnish the PAN details of your house owner to your employer. Two years earlier, the Board had issued a similar circular, asking tax payers to produce a rent agreement or the PAN …
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