Exemption

Can I claim HRA even if I'm staying at my parents' house

Can I claim HRA even if I’m staying at my parents’ house?

/ Income Tax

Salaried individuals residing in rented house are entitled to tax exemption on House Rent Allowance (HRA) under Section 10(13A) of the Income Tax Act, 1961. But are you aware of the fact that you, as a salaried individual you can take advantage of this exemption while staying at your parents’ home.

Who should file Form 15G or Form 15H

Know Who should file Form 15G and Form 15H?

/ Income Tax

Form 15G and Form 15H are self declaration forms that the assessee submits to the bank requesting not to deduct TDS on Interest Income, as their income is below the basis exemption limit. The assessee has to provide his PAN Card with the form.