Rent Receipt Online – How to get it?

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If you are claiming HRA in your income tax return, you need to furnish the rent receipt along with the rent agreement. You have to either collect it from your landlord or you can get the same online for free. It is now very easy to get the rent receipt online through various websites.

Today in this article I will tell you some good and free websites from where you can get the rent receipt online in minutes. I will also give you the features and comparisons of these websites.

As per the income tax law, if you are receiving HRA for rs 3000 or above, you need to furnish the rent receipt along with the rent agreement. It is even a good idea to keep a copy of the rent receipt handy in case of any future requirement.

Why do you need to submit rent receipts?

If an employee wants to claim income tax benefit on House Rent Allowance (HRA), he/she has to provide the rent receipt as proof of payment of rent to the employer. Rent receipt serves as evidence and the income tax department will provide deductions and allowances to the employee.

Best Rent Receipt Online Generator Website

What should you look for while generating the rent receipt online? The answer is simple, it should cover the basic details of the landlord and tenant like name, address, PAN number, etc.

Let’s have a close look at some of the best online rent receipt generator website.

Cleartax.in

ClearTax.in is one of the leading online portals for all you need related to income tax. The website is so neat and clean that even a layman can get his work done easily.

cleartax.in rent receipt generator
ClearTax.in rent receipt generator

Here is the step-by-step process for getting rent receipts from ClearTax.in

  • Visit https://cleartax.in/save/rent
  • Enter your monthly rent amount and house address
  • Click on the “Proceed”
  • It will then go to the next screen
  • Enter your name and e-mail address
  • Enter the name of the landlord and PAN number of landlord
  • Enter the date from when you want to generate the rent receipt

Features of Cleartax.in Rent Receipt Generator

  • Easy wizard for generating rent receipt online
  • Complies with the all mandatory requirement
  • Print receipt for all months individually
  • Get the rent receipt in PDF format
  • Get the rent receipt via e-mail

Economic Times

Economic times is one of the leading news websites. It also covers various topics on personal finance. It provides a facility for generating rent receipts online through its website for free.

Economic times rent receipt generator
Economic times rent receipt generator

Here is the step-by-step process for getting rent receipts from Economics Times

Features of Economic Times Rent Receipt Generator

  • Easy wizard for generating rent receipt online
  • Complies with the all mandatory requirement
  • Print receipt for all months individually
  • Download rent receipt in PDF format

ETMoney

ETMoney is the subsidiary company of Economic Times. It provides various investment options like mutual funds, bonds, etc. It also provides a tool for generating rent receipt online for free.

ETMoney rent receipt generator
ETMoney rent receipt generator

Here is the step-by-step process for getting rent receipts from ETMoney.

  • Visit https://www.etmoney.com/tools-and-calculators/rent-receipt-generator
  • Enter your name and monthly rent amount
  • Click on the “CONTINUE”
  • It will then go to the next screen
  • Enter the landlord’s name
  • Enter the PAN number of landlord
  • Enter the address of the house
  • Enter the date from when you want to generate the rent receipt
  • It will then ask for the receipt option like monthly or quarterly

Features of ETMoney Rent Receipt Generator

  • Easy to fill the form
  • Option for printing rent receipt for month or quarter
  • Directly print the receipt without downloading

Nobroker.in

Nobroker.in is the portal catering to the needs of an individual for a house on rent. It connects you directly to the house owner thus eliminating the need of a broker (middle man). It also provides a rent receipt generator tool for free to use.

nobroker rent receipt generator
nobroker rent receipt generator

Here is the step-by-step process for getting rent receipts from Nobroker.in

  • Visit https://www.nobroker.in/online-rent-receipt-generator
  • Enter your name and monthly rent amount
  • Enter the landlord name and PAN number
  • Enter the address of the house
  • Enter the date from when you want to generate the rent receipt
  • It will then generate the rent receipt which you can download and print.

Features of Nobroker.in Rent Receipt Generator

  • Easy to fill the form
  • Download the rent receipt and print
  • You will get an SMS with a link to download the rent receipt

Tax2Win.in

Avoid the last minute hassle of arranging your rent receipts for claiming HRA exemption. Use the free rent receipt generator and save taxes. It is fast, convenient and easy.

tax2win rent receipt generator
tax2win rent receipt generator

Here is the step-by-step process for getting rent receipts from Tax2Win.in

  • Visit https://tax2win.in/tax-tools/rent-receipt
  • Enter house address and monthly rent amount
  • Enter your name and landlord’s name
  • Enter the landlord name and PAN number
  • Enter your e-mail address
  • Enter the date from when you want to generate the rent receipt
  • It will then ask for the receipt option like monthly, quarterly, half-yearly or yearly.

Features of Tax2win.in Rent Receipt Generator

  • Easy to fill the form
  • Direct print option
  • You can generate receipt monthly, quarterly or yearly

Tax benefit of monthly rent paid

There is an allowance for the salaried people who are living in a rented house. The person can avail HRA (House Rent Allowance) exemption to save income tax under Section 10 (13A) of the income tax Act.

There are 3 options for calculating the HRA exempted amount.

  • Step 1: Actual HRA received from the employer
  • Step 2: The rent you actually pay – 10% of the sum of basic salary & Dearness allowance
  • Step 3: In case you stay in a metro city, 50% of your basic salary & dearness allowance, else 40% of your basic salary & dearness allowance.

The lowest of these 3 components will be a part of your Exemptions, in Income Tax Calculation. Your final tax liability will be calculated based on the exempted HRA amount.

Also Read: Income Tax Online Filing

What a valid rent receipt online must-have?

A valid rent receipt must have below mentioned components.

  • Tenant Name
  • Landlord Name
  • Rent Paid
  • Rental Period
  • House Address
  • Signature of Landlord
  • Pan of Landlord (Optional)
  • Revenue stamp (if the rent amount is more than Rs. 5000)

Rent Receipt Online – FAQs

Is it compulsory to submit a rent receipt in order to avail HRA exemption?

Yes, in order to claim the HRA exemption one needs to submit the rent receipt. Usually, the employer collects the rent receipt from the employer as a proof of investment declaration.

Do I also need to submit the lease/rent agreement along with the rent receipt?

Yes, you need to submit the lease agreement with your landlord. The lease agreement must contain the address of the leased property, lease period, lease amount(Rent)

Do I need to submit the receipt for every month?

Not necessarily, you can submit the quarterly or half-yearly receipt as well.

Why do I need to submit a PAN card copy of my landlord?

Rent paid to your landlord is an income to your landlord. Thus it must be declared and reported as income for your landlord.

My landlord is refusing to give me a rent receipt. What can I do?

It is mandatory to submit the signed rent receipt from the landlord. You need to discuss the same with your landlord before taking the accommodation on rent.

I lived in a rental apartment only for 5 months, will I be able to avail HRA exemption?

Why not, you can claim the HRA for the months you were on rented accommodation.

Do I need a hardcopy of the rent receipt or only softcopy will do?

Usually, an employer asking for a hardcopy of the rent receipt. You may check with your employer for further clarification. However, it is good to have a hardcopy with you for future references.

Is the PAN number of the landlord is mandatory?

The Central Board of Direct Taxes (CBDT) has made it mandatory to declare the landlord’s PAN details if the annual rent exceeds Rs 1 lakh or Rs 8,333 per month.

How do I calculate the HRA exemption amount?

Under section 80GG, you can claim least of the following as tax benefit:
Rs. 60,000 per year (i.e. Rs. 5,000 per month)
An amount equal to the total rent paid minus 10% of the total income.
25% of the adjusted total income of the employee.

Conclusion

These online tools will help you to be ready for your income tax declaration. I have compared the above 5 rent receipt online generator tool for you.

rent receipt online

All the website is offering the free and easy wizard for generating the rent receipts. You just have to fill in the key information and the rent receipt will be ready to print.

You may choose anyone from the above tool which best suits your requirements. Please share your experience in the comment box below.

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