Rent agreement with a company

Dipak Das (Querist) 27 December 2014 This query is : Resolved
Hello Sir
I am getting a house on rent but the rent agreement would be between myself and a company who owns the apartment.

Can I go ahead and make a rent agreement.

If an individual pays rent to a company owned property is there any TDS deduction to be done by me!!

How do I claim rent benefit in my HRA from Income tax as the pan card would be of the company.

Is this legal!!!

Please respond Sir

regards

Dipak das

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Devajyoti Barman (Expert) 27 December 2014
Yes, you can make such payment and apply for HRA exemptions. Compnay having been the landlord will not make any difference.

ajay sethi (Expert) 27 December 2014
you can take premises on leave and licence from the company . have the agreement duly stamped and regd . as far as tax benefits are concerned consult your CA

Rajendra K Goyal (Expert) 27 December 2014
You can pay rent to company if property belong to company. TDS has to be deducted if annual rent is above threshold limit.

Shailesh Kr. Shah (Expert) 28 December 2014
If an individual pays rent to a company owned property is there any TDS deduction to be done by me!!

answer : yes, if provisions of income tax requires.

How do I claim rent benefit in my HRA from Income tax as the pan card would be of the company.

answer : you can claim hra irrespective of fact that house owned by your employer.

malipeddi jaggarao (Expert) 29 December 2014
Yes you can. You will have to deduct TDS if the monthly rent is more than Rs.15000/- i.e., annually Rs.180000/-. You will have to remit this deduction to IT Department on monthly basis for which you need to register yourself with IT Dept. Your CA will guide you in this aspect.