A rent receipt is an invoice confirming rent paid between a renter and their landlord. The house owner or the landlord issues the yearly or monthly rent receipt to their tenant after they have pocketed the rental payments accrued. The rent receipts include all the necessary information on the transaction such as the names of the parties involved, the rent amount and period, and information on the property. A commercial or house rent receipt legitimises the transactions between a landlord and their tenants and is evaluated in court in case of disputes between tenants and homeowners. It is always a good idea to get online rent receipts in order to keep track. With the use of multiple sites, you can pay the amount online. These rent receipt forms can be used to submit in the offices for House Rent Allowance (HRA) claims too.
A salaried employee is required to submit the property or house rent receipts to their employer before the end of the financial year to avail of tax exemptions on their HRA( Housing Rent Allowance) under Section 10 (13A) of the Income Tax Act. With the right rent receipt template, it is possible to submit the document at the workplace with ease.
These can be weekly, yearly, or even monthly rent receipts. The lowest rent receipt form of the three amounts would be eligible for Tax exemption-
The rent receipt templates can be generated for free without any hassle online. The rent receipts online can be generated in a few easy steps. By following the steps mentioned below, you can get your own receipt in no time:
STEP 1 :Enter necessary information on the following
STEP 2 : Click on the Print Button to get it signed and stamped by the renter
STEP 3 : Submit the receipt to the HR before the end of the financial year to avail tax exemptions.
Before you go for finalising a template, it is a great idea to check rent receipt sample to understand. These samples can help you build the right one for both personal and professional use. You can find multiple rent receipt samples online.