Tax expert CA Ruchita Vaghani said contrary to popular belief, the Income Tax Act does not require a formal rent agreement ...

While a formal rent agreement is not a legal prerequisite, digital payment trails and landlord PAN details are essential to ...

For claiming a deduction on home loan interest under Section 24(b), you must be paying interest on a loan taken to purchase a property that is owned by you and for which possession has been obtained.

Salaried individuals can avail tax relief on House Rent Allowance (HRA) for the financial year 2024–25 (assessment year 2025–26) only if they opt for the old income tax regime while filing their ...

Under the old tax regime, House Rent Allowance (HRA) is exempted under section 10(13A) for salaried individuals. However, ...