What is Rent Receipt?

The rent receipt is the physical document issued by the landlord to the tenant as proof of rent payment. It includes details such as the tenant’s name, address, rent amount, payment mode, tenancy period, and landlord’s signature.
Typically, it is issued by the landlord only, but if you don’t receive a rent receipt, you can use an online rent receipt that can be downloaded from the rent receipt generator tool.

Why do you Need Rent Receipts?

Rent receipts serve as evidence of rent paid to the landlord. And, if you are a salaried individual, these rent receipts can help you to save your taxes.
If you are a salaried individual, you may also get a house rent allowance as part of your CTC. The employer gives it to cover your accommodation expenses, but it is taxable, too.However, the complete HRA amount is not taxable; you can claim HRA exemption as per the HRA rules. Your employer may ask you to submit rent receipts to claim this exemption. This is where you need rent receipts to claim HRA exemption and save your taxes.

How to Download Rent Slip through PropertyPistol’s Rent Receipt Generator?

Please find below the steps to generate the rent receipts for FREE using the approved house rent receipt format:

• Step 1:  To generate an online rent receipt, you need to first fill out your full name and the monthly rent you pay.
• Step 2:  Enter the duration for which you need to generate the rent receipts.
• Step 3:  Fill in your house owner's name, PAN number (if you have) and the full address of the rented property, where you reside.
• Step 4:  On the final screen, you can preview the sample, print or download rent receipts pdf with just a single click.

Frequently Asked Questions

Is Revenue Stamp Required For Rent Receipts?

The need for a revenue stamp depends on the payment mode you have used to pay your rent. You need a revenue stamp on your receipt if you pay your rent with cash, and it's more than Rs. 5,000. However, if you have paid rent through a check, bank transfer, or any other non-cash way, there is no need for a revenue stamp.

How much tax benefit is availed by submitting rent receipts to employers?

The maximum tax savings depend on multiple factors. Your tax benefit is restricted upto the lowest of the following three variables.

• HRA received from your employer.
• Actual rent paid less 10% of your basic salary.
• 50% of basic pay if you live in a metropolitan city and 40% for a non-metropolitan city.

Is the landlord's PAN required to claim HRA?

If your annual rent is over Rs 1,00,000, you must use the landlord's PAN number to claim an HRA exemption.

What evidence is required to claim HRA?

You need a rent agreement and rent slips to claim HRA exemption.

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

In this case, you can use the online rent receipt generator to create a rent receipt and get it signed by your landlord.