QUOTING PAN NO BY LICENSOR TO LICENSEE UNDER LEAVE AND LICENSE AGREEMENT FOR RESIDENTIAL PURPOSE
5 years ago
IS IT COMPULSORY FOR THE LICENSOR TO PROVIDE HIS PAN NO DETAILS TO LICENSEE UNDER LEAVE AND LICENSE AGREEMENT MEANT FOR RESIDENTIAL PURPOSEIN NEWTOWN, KOLKATA.THE LICENSEE ASKED FOR IT IN ORDER TO CLAIM HRA EXEMPTION BENEFITS IN NEWTOWN, KOLKATA. DOES IT ENTAIL ANY TAX OR OTHER EFFECTS FOR THE LICENSOR
Deepak Yashwantrao Bade
Responded 5 years ago
A.Provide PAN detail is mandatory for registration of rent agreement and declaring how much income is coming from rental property. It's a legal procedure.dont worry.
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ROBERT D ROZARIO
Responded 5 years ago
A.Generally for registration of L&L Agreement, PAN details of both the parties is a must. Obviously the Licensee get the HRA benefits which is entitled to and Licensor should declare income from his house property in his/her IT Return.
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Ambrose Leo
Responded 5 years ago
A.You can provide the details of Pan for claiming the tax benefits or You have to provide your bank account detals of Payment received from the tenant photocopies of pass book details as required by Income Tax department for claiming tax benefit.
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A.Ye it is mandatory to share the licensor's ( landlord) PAN card for two reasons. No. one if the agreement is to be registered then it can not happen without the PAN number. Number two when the licensee wants to avail the tax benefits of the HRA then he/she has to provide the PAN no.of the landlord. So it is ok to provide the PAN number there is no risk unless you want to don't show that rent income in your tax declaration.
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