Cleartax.in, the online tax filing platform has launched an auto rent receipt generator for its users. It is a free-to-use product that automates the generation of rental receipts and assists individuals in submitting their House Rent Allowance (HRA) proofs to their employers. Now, there is no need to run around to get tax receipts to claim the HRA benefits anymore. One can generate them online now.

This may work out positively for landlords who will not need to be the first point of contact, however, some landlords will use property management companies that can help deal with this first-hand anyway. The use of Charlotte NC Property Management companies as well as similar others can help landlords stay on top of what they need to with their renters and this will add another layer of help to their management. No matter what kind of rental property it might be, it is always necessary for landlords to be aware of what else needs to be done to implement proper management – be it through a software, or through companies like Rave Property Management (click here for more reference).

How it works:-

• All one must do is, go to the site and enter details such as their name, rent amount, address, the landlord’s name and PAN card details and the duration for which the receipts are to be generated.
• The Rent Receipt Generator then displays the required receipts, which can either be printed or downloaded for accessing later.
• The receipts can then be signed by the landlords and submitted towards the tax rebate. “It takes about a minute to generate rent receipts.
• The employee can print the PDF generated, get it signed from the landlord and submit to the HR Department,” said Archit Gupta, founder and CEO, Cleartax.in

One doesn’t even need the revenue stamp if you are payment of rent is made via cheque. The receipt generated by ClearTax is sufficient. Revenue stamp is only needed if payment made in cash per receipt is more than Rs 5,000. “The service has become very popular in a very short time. We have already generated 2.5 lakh rent receipts across India,” said Gupta.