Rent Tax exemption Deadline: If you also live in a rented house and want tax exemption, then do not forget to fill the necessary forms before July 31, 2026. Know important details..
ITR Rent Deduction Rules: If you live in a rented house and are thinking of saving tax, then this news is very important for you. Missing a small deadline can make you lose your entire tax benefit. We are talking about that form, which provides tax exemption to the tenants. Its last date is 31 July 2026. Let us understand in an easy way what this form is, for whom it is, and how and when to fill it…
Why is 31st July important for those living on rent?
If you are a salaried employee, but you do not get HRA (House Rent Allowance) from the company, or you run a small business and live in a rented house, you can still get tax exemption. You get this benefit under Income Tax rules Section 80GG. To claim this exemption, you will have to fill and submit Form 10BA before 31 July 2026. If you forget to fill this form, you will not be able to claim tax exemption on house rent. That means your pocket will be directly robbed. Apart from this, if you have received any arrears or advance salary, then to get tax relief on it, you will also have to fill Form 10E by July 31.
What is Form 10BA for?
This form is especially for those people who live in a rented house, do not get House Rent Allowance (HRA) in their salary, or get very little of it, yet want tax exemption on rent. Meaning, if your company does not give you HRA, or you are self-employed, you can still claim tax exemption on rent. For this it is necessary to fill this form.
Why is Form 10BA necessary?
According to income tax rules, if you want exemption on rent, then you have to tell the government that you actually live in a rented house and are paying rent every month. This information is given through this form. Without filling this form, your claim is not considered valid, even if you are actually paying the rent. This means that just paying the rent is not enough, it also has to be declared properly.
What will happen if I miss the deadline?
Suppose for some reason you are not able to file your Income Tax Return (ITR) by 31st July 2026, then the government gives you a chance to file ‘Belated Return’ till 31st December 2026, but it will not be free at all. For this you will have to shell out money. If your total annual income is more than Rs 5 lakh, you will have to pay a late fee (penalty) of Rs 5,000. If your annual income is less than Rs 5 lakh, then there will be a penalty of Rs 1,000 for late filing of ITR. If you have any outstanding tax, interest will be added on it every month. Also, you will not be able to carry forward your business or investment losses to the next year.
What to keep ready for filling Form 10BA?
- Full name and address of the landlord
- PAN number of the landlord (if the annual rent exceeds a certain limit)
- Total amount of rent paid in a year
- Rent agreement or rent receipt as proof
What things should you pay special attention to?
- While filling the form, enter all the information correctly, if wrong information is given, the claim may be rejected.
- Do not forget to provide the PAN number of the landlord, otherwise there may be problems in the claim.
- Keep documents like rent receipt and agreement safe with you, they may be needed in future.
- Do not wait for the last day, the deadline may be missed due to technical issues or delay in gathering information.
Disclaimer: The information provided in this article is for general purposes and should not be construed as tax or legal advice. The rules related to Form 10BA and rent deduction may change, so for latest information visit the official website of the Income Tax Department or consult a qualified CA. Before making a claim, verify all your documents and information yourself.