Mandatory to furnish landlords PAN if annual rent above R1.8 lakh

Written by fe Bureau | Updated: Sep 13 2011, 06:30am hrs
I have been working as a consultant with a multi-national company in Mumbai for the last few years. As a part of my compensation package, I am entitled to (house rent allowance) HRA of R3 lakh per annum and my rental payment is R2.40 lakh per annum. Is it mandatory to furnish the permanent account number (PAN) of the landlord to claim HRA

Anmol Srivastava

According a recent circular issued by the Central Board of Direct Taxes with respect to income tax deductions on salaries under the Income Tax Act, 1961, for Financial year 2011-12, if the annual rent paid by an employee exceeds R1.8 lakh per annum, it is mandatory for him or her to report the PAN of the landlord to the employer. If the landlord does not have a PAN, a declaration to this effect from the landlord, along with his name and address, has to be filed by the employee.

I am a professional working with a media company. I have been depositing R70,000 annually into my PPF account to save tax. Is it true that the limit has been increased to R1 lakh

Komalika Anand

The limit for investment in PPF is still R70,000. A committee formed by the Reserve Bank of India on Comprehensive Review of National Small Savings Fund has recommended increasing the limit to R1 lakh per annum. However, it is still a recommendation and is yet to be implemented.

I am a salaried individual.

I filed my tax returns for the financial year 2009-10 on April 1, 2011. The due date for filing the return in my case was July 31, 2010. I wish to revise it as, inadvertently, I had excluded bank interest in the original return. Can I do so

P S Rao

For the financial year 2009-10, the due date for filing the income-tax return was July 31, 2011. Return filed after the due date is considered as belated return. Further, under the provisions of the Income tax Act, 1961, income tax returns can be revised only if the original return is filed within the applicable due date (i.e. July 31, 2010). As you have filed your original return after the due date, you cannot revise it.

I am a scientist and had gone gone abroad on a government project. As part of my compensation, I am entitled to certain allowances or perquisites on account of my rendering services outside India. Kindly advise on its taxability

Suresh Trivedi

The perquisite/allowances received by you would be exempt under Section 10(7), which provides for exemption of any allowances or perquisites allowed outside India by the government to an Indian citizen towards rendering of services outside India.

The writer is founder of RSM Astute Consulting Group, Send your queries at