I was working for 1st 3 months of year 2009 . I have only received HRA for Apr & May 09 . I stay in a rented house . I have paid rent for all 12 months now. what is the Tax Benefit I can avail ?
Prashanth (Managing Partner) (37 Points)
20 March 2010I was working for 1st 3 months of year 2009 . I have only received HRA for Apr & May 09 . I stay in a rented house . I have paid rent for all 12 months now. what is the Tax Benefit I can avail ?
Amir
(Learner)
(4016 Points)
Replied 20 March 2010
Dear Sir,
As a principle, Exemption cannot exceed the income..........hence maximum amount that can be claimed exempt is the amount of HRA which you have received..........so its for April & May u can claim HRA as exempt............
Further, I think benefit of Rent paid for the months of June onwards shall not be allowed u/s 80GG, since assessee was getting HRA.
From next year u can claim rent of 12 months u/s 80GG provided u r not in receipt HRA.......
CAclubindia
