CAclubindia Articles

House Rent Allowance: A Tax Saving Lifeline For Salaried Person

Posted by CA Rahul Mittal 27 July 2020 3860 Views

House Rent Allowance (HRA) is generally considered as a part of salary component and is generally added in the salary structure to help the individual to save tax

Deduction u/s 24(b), HRA exemption & interest capitalisation

Posted by CA Paras Dawar 27 July 2020 53812 Views

Assessee claim deduction of Interest on Housing Loan to acquire house property u/s 24(b) and simultaneously HRA exemption on rent paid (if he resides in property other than acquired). Further upon sale of said property, interest already claimed as de

House Rent Allowance (HRA) Vs. Rent Free Accommodations (RFA)

Posted by Sensys Technologies 27 July 2020 58266 Views

House Rent Allowance (H.R.A.) results in tax savings because accounting under Income tax act is direct exemption based. However, accounting of Rent Free accommodation is valuation based taxation and added to total income of employee presumptive basis

Can we claim HRA deduction u/s 10(13A) and Interest on housing loan u/s 24(b) simultaneously if both are in the same city?

Posted by Shudhanshu Agrawal 27 July 2020 65873 Views

I have seen that we are finding difficulties in application of Sections of Income Tax Act, 1961. The reason behind it is lack of conceptual knowledge. To solve this problem I have decided to write articles for you all on different to

HRA a tool of tax planning: Queries

Posted by CA Chandra Kishore Bajpai 27 July 2020 35449 Views

Few days back ( on 13th Nov 2013)I posted an article on exemption from house Rent allowance House Rent Allowance-A tool of Tax planning for employees Really I feel very happy to see the responses to the article and good to know that pe

House Rent Allowance- Section 10(13A)

Posted by Member (Account Deleted) 27 July 2020 65597 Views

House Rent Allowance is an allowance given by an employer to an employee. The sole purpose of this is to meet the cost of renting a home. Here, we hope to clear the doubts you may have about HRA. Do note, when we refer to salary in this article, it

How to take maximum tax advantage of House Rent Allowance (HRA)?

Posted by Deepak Nagori 27 July 2020 77617 Views

Maximum Tax Advantage of House Rent Allowance (HRA)House Rent Allowance (HRA) is provided by an employer to his employee to meet the rental cost of the residential house of the employee.

New and Mandatory Return Filing for Composition Dealers

Posted by CA Chanchal Jain 27 July 2020 15959 Views

To overcome the confusion between GSTR-4, that is before 01-04-2019 it was compliance to be made by taxpayer quarterly registered under composition levy, i.e. u/s 10 of CGST Act.

Why have Contingency/Emergency Funds gained more importance after COVID-19?

Posted by CA KANJ GOEL 27 July 2020 1954 Views

two principles (a) Pay Yourself First (b) Have adequate Contingent Funds, first step towards financial freedom against any black swan events like COVID-19