About house rent deductions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2012
SIR, I AM A GOVT EMPLOYEE IN EDUCATION DEPARTMENT.MY PAY SCALE IS 10300/34800+5000. AND BASIC PAY IS 18450.
I AM PAYING RS. 4500/- PER MONTH AS A HOUSE RENT. HOW MUCH TAX DEDUCTION CAN I GET.
PLZ GIVE ME CALCULATIONS.
THANKS
I AM PAYING RS. 4500/- PER MONTH AS A HOUSE RENT. HOW MUCH TAX DEDUCTION CAN I GET.
PLZ GIVE ME CALCULATIONS.
THANKS
18 April 2012
You can claim exemption(least of below 3) U/s 10(13A) of income tax act.
1.Amount of HRA received.
2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) /40 % of salary in in any other case.
3.Rent paid in excess of 10 % of salary.
Salary here means basic salary which includes dearness allowance if the terms of employment provide for it, and commission based on a fixed percentage of turnover achieved by the employee.
with the above you can easily get it.
1.Amount of HRA received.
2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) /40 % of salary in in any other case.
3.Rent paid in excess of 10 % of salary.
Salary here means basic salary which includes dearness allowance if the terms of employment provide for it, and commission based on a fixed percentage of turnover achieved by the employee.
with the above you can easily get it.
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