Please clarify the following query.
Basic salary received in Full for the month.
HRA received for 25 days, as 5 days leave was deducted.
Now when calculating exemption what should be the rule. Should be calculated for 25 days or full month.
manikandan (ACCOUNTANT) (24 Points)
18 December 2014Please clarify the following query.
Basic salary received in Full for the month.
HRA received for 25 days, as 5 days leave was deducted.
Now when calculating exemption what should be the rule. Should be calculated for 25 days or full month.
CA Charu Hinger
(Assistant Manager-Blue Dart Express Ltd)
(70 Points)
Replied 18 December 2014
HRA is calculated on basic salary. If the basic salary is received in full then accordingly the calculation will be made for HRA. The exemption of HRA will be available up to the the minimum of the following three options:
Arif Ali
(Apt Co Advisory)
(1230 Points)
Replied 18 December 2014
for 25 days as HRA received there in rule.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
