Ceiling limite of house rent allowance

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2014 Can I deduct house rent allowance from my salary income. If yes than how much and under which section. As such i am paying this house rent to my mother since last 3 year. but never take any deduction on this account. I hear from my friend that I am eligible for deduction on this. Kindly clarify.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

26 July 2014 The rented premises must not be owned by you.

In case assessee stays in his own house, nothing is deductible and the entire amount of HRA received is subject to tax. As long as the rented house is not owned by the assessee, the exemption of HRA will be available up to the the minimum of the following three options: 1) Actual house rent allowance received from your employer 2) Actual house rent paid by you minus 10% of your basic salary 3) 50% of your basic salary if you live in a metro or 40% of your basic salary if you live in a non-metro.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Saurabh Jadhav

John Ravindran Moses

Shraddha Pangam

Deepak Nayak

Prakash Kaduluri

Subscribe Now

Ceiling limite of house rent allowance

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Senior Executive

CA Final

Manager- Finance and Compliance

Accountant

GST CONSULTANCY