Damage Deposit Receipt Template for India

The Damage Deposit Receipt is a fundamental document in Indian rental transactions, required whenever a security deposit is collected from a tenant. This document, governed by Indian property laws and state-specific regulations, serves as official proof of deposit payment and helps prevent future disputes. The receipt typically includes essential information such as the parties' details, property information, deposit amount, payment method, and conditions for return. A properly executed Damage Deposit Receipt is particularly important in India, where security deposit amounts can be substantial (often ranging from 2-10 months' rent) and specific state laws govern their handling. The document should comply with local stamp duty requirements where applicable and may need to be registered under certain circumstances as per the Indian Registration Act.

1. Receipt Number and Date: Unique identifier for the receipt and date of deposit payment

2. Landlord Details: Full name, address and contact information of the property owner/landlord

3. Tenant Details: Full name, address and contact information of the tenant paying the deposit

4. Property Details: Complete address and brief description of the rental property

5. Deposit Amount: The security deposit amount in both figures and words

6. Payment Method: Mode of payment used for the security deposit (cash, check, bank transfer etc.)

7. Purpose of Deposit: Statement explaining that the amount is held as security against damage to property

8. Return Conditions: Basic conditions under which the deposit will be returned or deducted

9. Signatures: Space for signatures of both landlord and tenant with date