Generate Landlord-Compliant Rent Receipts
Instantly generate print-ready rent receipts with automatic PAN validation and digital signatures:
1. The ₹1,00,000 Annual PAN Rule (CBDT Circular 8/2013)
Under circulars issued by the Central Board of Direct Taxes (CBDT), if an employee pays rent exceeding ₹1,00,000 per financial year (or ₹8,333 per month), it is mandatory to report the landlord's Permanent Account Number (PAN) to the employer in Form 12BB.
2. What If Your Landlord Does Not Have a PAN?
If the landlord does not possess a PAN because their total annual income is below taxable limits, they can provide a signed declaration in Form 60 certifying their identity and residential address. Employers are legally authorized to accept Form 60 declarations in lieu of a PAN card.
3. Section 194-IB TDS on Monthly Rent Exceeding ₹50,000
Mandatory TDS for Tenants: Under Section 194-IB of the Income Tax Act, any individual paying rent exceeding ₹50,000 per month must deduct 5% (or 2% under amended provisions) TDS from the rent paid in the last month of the financial year and deposit it online via Form 26QC.