I am a salaried person in India. I am in the process of getting a new house on rent but the property is a jointly owned property. The rent agreement will have both the owner's names & i would be transferring their share via bank transfer to each account separately.
Assuming I am paying total INR 90K as monthly rent & splitting between the two owners as 45K each, I have the below queries :
- Can I submit full 90K deduction as HRA (depending on my basic salary limit & the 3 least HRA tax clauses) to my employer or will i get only 45K claim for one owner?
- Would I need to deduct TDS for both the parties separately as I am paying less than 50K to each ?