What happens if I send money to friend as rent?

[CardShard]

I have used NoBroker rent pay before. Assuming reward > markup, is there a downside? Any income tax implication on "friend"?

 

[pratikjain4]

You had to share the PAN details with RG / NB while paying , right ? In that case it might show up in the receivers account as rent income.

 

[NewUser]

I hold DCB.
In my case, I was planning to transfer rent 60k rent to my wife such that it will be 49.5k from redgirraffe and 10.5k from nobroker - on monthly basis after preparing a genuine rental agreement.
I do not want this transfer to get added to her income.

Now after reading the above comment from @pratikjain4 I am having second thoughts.
Is there a way to highlight that the 60k transaction is nothing but a peer to peer payment as she would return that amount back every month to my account using bank transfer?

Is there a problem in splitting the amount to say, 20k *3 and sending, without giving PAN card? If not, do it.

 

[ULTRA-MAGNUS]

Is there a problem in splitting the amount to say, 20k *3 and sending, without giving PAN card? If not, do it.

Hello,
Which platform do you suggest to use for 20k x 3 ? Lately we have seen Nobroker holding the transaction and asking for rental agreement. Also rent payment only once a month can be done on NB right?

 

[NewUser]

Hello,
Which platform do you suggest to use for 20k x 3 ? Lately we have seen Nobroker holding the transaction and asking for rental agreement. Also rent payment only once a month can be done on NB right?

You may use Freecharge. They have PAN card as optional on ₹20k(but they make PAN card mandatory at ₹25k). No Broker has PAN card as optional at ₹25k.
Even if you can pay only once through a portal, you may use Freecharge for ₹20k, NoBroker for ₹20k and some other platform such as Paytm or Cred for rest ₹20k. Paytm fees are bit hefty, Cred has not so hefty fee. Also, I never used Cred, but I think they won't make PAN card mandatory for ₹20k amount.

 

[ChurningNoob]

Cheapest to Highest from thread -

RedGiraffee
NoBroker
Freecharge
Cred
Paytm

 

[CardSeeker]

NoBroker Requires Rent agreement?

 

[CardShard]

NoBroker Requires Rent agreement?

No