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7 hours agoMortgage rates are rising, increasing payments for millions, but U.K. homebuyer demand shows a positive shift for the first time in months.
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Financial Markets
ITR filing: Claiming HRA to reduce tax outgo? Rent receipts alone may not suffice - why your claim can be rejected
negativeFinancial Markets
If you're counting on your House Rent Allowance (HRA) to cut down your tax bill, beware—just having rent receipts might not be enough anymore. Tax authorities are cracking down on suspicious claims, especially if you're paying rent to family members without clear proof of actual transactions. Even with paperwork in order, your claim could still get rejected if it looks fishy.
Editor’s Note: This matters because a lot of salaried folks rely on HRA exemptions to lower their taxable income. If the taxman starts rejecting claims more aggressively, it could mean unexpected bills or audits for people who assumed they were playing by the rules. It’s a heads-up to double-check your documentation and make sure your rent payments look legit—especially if your landlord happens to be a relative.
Do you still have to file a tax return if you don’t owe any tax?
negativeFinancial Markets
Think you're off the hook for filing taxes if you don't owe anything? Think again. The UK tax authority can still hit you with hefty fines—up to £1,600—just for skipping the paperwork, even if your balance is zero. It’s one of those bureaucratic gotchas that catches people off guard.
Editor’s Note: Taxes are confusing enough without hidden penalties. This story matters because it’s a heads-up for anyone who assumes "no tax due" means "no forms needed"—especially freelancers, retirees, or side hustlers who might not realize they’re still on the filing hook. A little paperwork now could save a big headache (and fine) later.
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Why World Pulse Now?
Global Coverage
All major sources, one page
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Feel the mood behind headlines
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Know what’s trending, globally
Read Less, Know More
Get summaries. Save time
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Learn moreLive Stats
Articles Processed
10,089
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118
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211
Last Updated
3 hours ago
Live data processing
How it works1-Minute Daily Briefing
Stay sharp in 60 seconds. Get concise summaries of today’s biggest stories — markets, tech, sports, and more