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Need rent receipts to claim HRA tax exemption? Generate it now instantly by simply filling in the details below. It’s easy, quick, and hassle-free.
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What is a Rent Receipt?

Rent receipt is a document that acknowledges rent payment by a tenant to the landlord. A rent receipt generally includes the following information:

Why do you need house rent receipts?

Your house rent is probably your biggest monthly expense. Most tenants, especially those who pay rent in cash, do not realize why rent receipts are important and how they can be used to save tax. Magicbricks lets you generate template based rent receipt online which can be downloaded in PDF format.

Let us look at some of the major benefits of house rent receipt :

  • Rent receipts save you from legal disputes

    A house rent receipt serves as a proof that you've paid your rent .In the event of any legal dispute between you and landlord regarding non-payment of rent ,you can show your rent receipts to prove your innocence .Additionally ,rent receipts also mention the date of payment ,in case the landord wrongfully asks you for late payment fine.
  • Rent receipts for HRA tax exemption

    If you are a salaried individual ,you can use rent receipt to claim House Rent Allowance (HRA)tax exemption under Section 10 (13A) of the IT Act .The deduction you can claim will be lowest of the following :
    • -The HRA given by your employer
    • -50% of your salary if you live in a Metro city
    • -40% of your salary if you live in any other city
    • - The actual rent you pay minus 10% of your basic salary and dearness allowance
    If you are a self-employed individual ,you can avail tax exemption under Section 80GG

How to generate free rent receipts online?

You can use the Free Rent Receipt Generator tool by Magicbricks to instantly generate your online rent receipts at any time. Check out the steps below to understand how it works and how to download rent receipt in PDF format.
Step1
Enter all the required details and click on "Generate Rent Receipts Now"
Step2
Click on "Download Rent Receipt Now " to download & save the receipt on your device
Step3
Your rent receipt is ready

Any Questions? We are here to help

  • What is the format of rent receipt?

    A rent receipt format generally includes the name of tenant, landlord, amount paid, the date of payment, address of the rented property, etc.

  • Is rent receipt available for Free?

    Yes, Magicbricks lets you generate as many rent receipts as you want at absolutely no charge. Whether you need a receipt for your records or to claim income tax deduction, simply use our Free tool to generate it instantly and download it as PDF.

  • Am I required to submit a rent receipt every month?

    You don't have to submit your rent receipt every month. However, you must make sure to submit it on a quarterly, half-yearly or yearly basis.

  • What are the tax benefits available on monthly rent payment?

    For most salaried individuals, House Rent Allowance (HRA) is part of the salary. However, HRA is not fully taxable. You can claim exemption on some part of your HRA as per Section 10 (13A) of the IT Act. The deduction you can claim is the minimum of:

    • Actual HRA received
    • 50% of salary if you live in a Metro city
    • 40% of salary if you live in any other city
    • The actual rent you pay minus 10% of your annual salary

  • What are the important components of a rent receipt?

    A rent receipt should contain the following information:

    • Date of rent payment
    • Name of the tenant and landlord
    • Amount of rent paid
    • Period for which rent is paid
    • Address of the rented property

    In addition to the above components, you can also include certain other fields in your rent receipt such as mode of payment (cash or cheque or bank transfer), Landlord’s PAN (if required).

  • Do I need to mention the Landlord's PAN number in rent receipt?

    In case your annual rent is more than Rs 1 lakh, you need to provide your landlord’s PAN number along with rent receipts to claim HRA tax exemption.

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