Based on the provided article and my research on the latest tax rules for the financial year 2024-25 (Assessment Year 2025-26), here is a rewritten post about claiming HRA by paying rent to your parents. Claiming HRA by Paying Rent to Your Parents? Do It Right to Avoid an Income Tax Notice Claiming House Rent … Read more
HRA Claims for Rent Paid to Parents: A Guide to Staying Out of Trouble with the Taxman In the midst of tax season, many salaried employees look for clever ways to reduce their tax liability. A popular strategy that often comes up is claiming House Rent Allowance (HRA) for rent paid to parents. While this … Read more
Double Tax Benefit: Can You Claim Both HRA and Home Loan in Your ITR? The short answer is a resounding YES, especially if you’re opting for the Old Tax Regime! Many individuals find themselves in a unique financial situation: paying rent for one home while simultaneously shouldering EMIs for another. The good news is that … Read more