23 April 2012
Whole HRA would be taxable under SALARY.Since u/s.10(14) HRA is exempt by least of following: 1 40% or 50% of Salary as the case may be. 2.Actual HRA received 3.Excess rent paid over 10% of salary the last one would be least since it tends to be negative hence nothing would be exempt.
CAclubindia
