Last updated: 2026-10-21
Why a deposit receipt matters
- It proves how much was paid and when, which matters most when the tenant moves out.
- Clear refund terms prevent disputes about deductions.
- Pay deposits by bank transfer or UPI so there's a record.
- Mention the deposit in the rent agreement too.
Important: only make receipts for money actually received. A false receipt can be treated as forgery.
Frequently asked questions
Is the security deposit taxable for the landlord?
No, a refundable deposit isn't income. It becomes income only if the landlord keeps part of it, for example to cover unpaid rent.
How much security deposit is normal?
It varies by city: usually 1–3 months' rent, but up to 6–10 months in some cities like Bengaluru. States that adopt the Model Tenancy Act cap it at 2 months for homes.
Should both landlord and tenant sign?
Yes, ideally. The landlord signs to confirm they received it, and the tenant signs to agree to the refund terms.
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