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Rent Receipt

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  • Rent Receipt Generator

Rent Receipt Generator

Escape the last-minute rush of gathering rent receipts for your HRA exemption claim. Utilize Legaldev free rent receipt generator and maximize your tax savings effortlessly. It's fast, convenient, and easy to use.

Whether you're a landlord or a tenant, our user-friendly platform streamlines the process, ensuring accuracy and compliance every time. Simply input your details, and in just a few clicks, receive a customized rent receipt tailored to your specific needs.

1

Monthly Rent*

2

Rented House Address *

Generate Free Rent Receipts in 4 steps

For claiming HRA exemptions it is mandatory to submit Rent Receipts to the employer

This can be done by following 4 simple steps:-

  1. Fill the required details like Monthly rent, Address of the rented house, email-Id, PAN number etc.

  2. After selecting the time period of rent slip generator-monthly, quarterly, half yearly or yearly, the rent receipt will be shared to your email address.

  3. Download the generated rent receipt slip in pdf form and get it stamped & signed by landlord.

  4. Submit Rent Receipts to your employer and gain exemption on HRA.

Rent Receipt Generator

Sample Rent Receipt Template Format

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What is a rent receipt and why do we need them?

In India, a rent receipt is a crucial document that serves as proof of payment for the rent of a property. Its significance extends to various aspects, including income tax purposes, House Rent Allowance (HRA) exemptions, and maintaining accurate records of income and expenses. It is a key instrument for tax saving and so should be collected and kept safely. Salaried employees need rent receipts to claim their House Rent Allowance (HRA). The rent receipt(document) is provided by the landlord upon receiving the rent from the rentee, and his signatures are placed on it.

How to generate rent slip online?

For claiming HRA exemptions it is mandatory to submit Rent Receipts to the employer

This can be done in just 3 simple steps

  1. Enter amount of rent paid and address

  2. Fill details of self and landlord

  3. Select Period for which you want to generate rent receipt
    (Monthly, Quarterly, Annually)

generate rent receipts online

What are the details required in rent receipts?

The following are the details which are required in the rent receipt:

  1. Tenant Name (If you are the tenant, fill in your name)

  2. Landlord Name.

  3. Amount of Payment.

  4. Date of Payment.

  5. Rental Period.

  6. House Address (Rented Property)

  7. Signature of Landlord or Manager.

Is it necessary to affix a revenue stamp on rent receipt?

A revenue stamp is required to be affixed on rent receipts if cash payment is more than Rs. 5000 per receipt. If rent is paid through cheque or online transfer then revenue stamp is not required.

You can easily understand it from the given table

Mode of Payment Whether revenue stamp is required
Cash, upto 5000 per receipt No
Cash, more than 5000 per receipt Yes
Cheque or online transfer No

Where can I get the revenue stamps?

Revenue stamps can be obtained from nearby post offices or you can obtain the same by stationery shops, amazon, local vendors.

How much tax can be saved by rent receipt?

It is mandatory to submit rent receipts or a copy of the rental agreement as proof for claiming a house rent allowance deduction. In India, individuals who are salaried and living in rented accommodation can claim House Rent Allowance (HRA) exemptions under Section 10(13A) of the Income Tax Act, 1961. The amount exempted is the least of the following:

  • Actual HRA received from the employer.
  • Rent paid minus 10% of the salary.
  • 50% of the salary if living in metro cities or 40% of the salary if living in non-metro cities.

By providing rent receipts, individuals can claim this exemption and reduce their taxable income, thereby saving on taxes. The exact amount saved will depend on the individual's salary, rent paid, and other applicable factors.

Need help in tax planning and want to maximize your tax savings, know where you should invest your hard earned money. Consult with the tax experts.

To calculate your HRA exemption use our free calculator or Read more.

FAQ’s on Rent Receipts

Q- Is it mandatory to have rent receipt to claim HRA?

Ans. Yes, if an employee receives HRA in excess of Rs. 3000/- per month, it is mandatory to provide Rent receipt to employer as an evidence for claiming HRA.
Even if your HRA is less than Rs. 3000/-, try to keep rent receipts with you in case the Income Tax Officer asks for them at a later date.

Q- Do I need to produce a rent receipt for every month?

Ans. Generally employers ask for rent receipts for 3-4 months.

Q- How to generate monthly rent receipts?

Ans. While generating rent receipts online in the third step when you select the period you can make a choice of generating rent receipts yearly, monthly or quarterly for the specified time period.

Q- Is the PAN of the landlord required for claiming HRA?

Ans. PAN of landlord is required only if rent exceeds Rs.8333/- per month (Rs.100000/- annually). In case the landlord does not have PAN, declaration of the same is required. Download Declaration Form
If the landlord does not provide his PAN, you can obtain the same from the below mentioned link. (PAN number verification)

Sample Declaration Form
Declaration Regarding PAN

Q- What evidence is required for claiming HRA?

Ans. The evidences required for claiming HRA are the Rent receipts, rental agreement and PAN card of the landlord in case annual rent exceeds Rs.100000/-

Q- Do I need a xerox/photocopy of the landlord's PAN card?

Ans. No, there is no need for the same. Only PAN No is required to mention on rent receipt.

Q- Why is the PAN of the landlord required?

Ans. The reason behind declaring a landlord's PAN is to track fake receipts being submitted by employees to claim HRA.

Q- What if I forgot to submit rent receipts at the time of declaration?

Ans. Even if you forgot to submit rent receipts, you are eligible to claim HRA while filing IT return. All you need is Rent receipts and PAN of landlord in case annual rent exceeds Rs.100000/-
Our experts are here to help you claim all the available tax exemptions and deductions & file your IT return in a hassle-free manner. Connect Now to know how!

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