Answered on April 04,2021
Since you are maintaining landlord and tenant relationship with your partners, you can execute a rental agreement and save tax for rent paid to your parents
Below is the step by step procedure to execute a rental agreement in Karnataka,
Step 1: Prepare a draft agreement in word format
Step 2: Buy Rs.100 Non-Judicial E-stamp paper from a co-operative bank, Sub-registrar office, or court near you
Step 3: Print the draft agreement on E-stamp paper
Step 4: Landlord (parents) and tenant (you) should sign the rental agreement
Step 5: Meet notary public near you and get the rental agreement notarized
This completed the execution of a rental agreement.
In Karnataka, we provide rental agreement service, our service includes drafting + execution + notary + home delivered in 2 working days. Same day express delivery available. To opt for our service, please Whatsapp to 9 7 4 2 4 7 9 0 2 0.
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