CBDT Circular on Rent Reporting Requirements
CBDT, via circular 08/2013 dated 10 Oct 2013, has made it mandatory that if the annual rent paid by the employee to his/her landlord exceeds Rs 1,00,000 per annum, he/she will have to report the PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration to this effect from the landlord, along with the name and address of the landlord, should be filed by the employee.
The earlier limit was Rs 15,000 per month when the PAN of the owner was required. For the financial year 2013-2014, the submission of the PAN of the landlord is necessary if the rent exceeds Rs 8,333 per month.
CBDT, via circular 08/2013 dated 10 Oct 2013, has made it mandatory that if the annual rent paid by the employee to his/her landlord exceeds Rs 1,00,000 per annum, he/she will have to report the PAN of the landlord to the employer. In case the landlord does not have a PAN, a declaration to this effect from the landlord, along with the name and address of the landlord, should be filed by the employee.
The earlier limit was Rs 15,000 per month when the PAN of the owner was required. For the financial year 2013-2014, the submission of the PAN of the landlord is necessary if the rent exceeds Rs 8,333 per month.