How to claim hra exemption in itr 2

Most salaried individuals have House Rent Allowance (HRA) as part of their salary structure. To save income tax, many people claim HRA tax exemption for living in rental accommodation during the financial year.

As per a Times of India report, the Income Tax Department has unearthed an HRA fraud involving the usage of illegal Permanent Account Numbers (PAN). The Income Tax Departmenthas detected 8000-10,000 high-value cases with amounts exceeding Rs 10 lakh or more in some cases

This may lead to increased scrutiny of HRA claims, especially for high-value HRA claim amounts.

Barring a few exceptions, the income tax department can reopen old income tax returns (ITRs) up to four years from the year of filing it. During this period, the taxpayers are expected to keep records of the deductions and exemptions claimed while filing their ITR

Now, if you want to ensure that your genuine HRA tax exemption is accepted by the tax department while filing your income tax return (ITR), then you must keep certain proofs handy.

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