Deduction in ITR Section 80
This query is : Resolved
Lalit Kheterpaul
(Querist)
09 February 2017
Deduction under chapter VI A, in which section HRA and CA are exempted?
09 February 2017
HRA exemption is to availed u/s 10(13A). It is not a part of Chapter VI A dedcutions.
Exemption is quantified in Rule 2A of Income Tax Rules, 1962 as under—
(a) the actual amount of HRA received by the assessee in respect of the relevant period; or
(b) Rent paid in excess of 10% of salary in respect of the relevant period; or
(c) an amount equal to—
(i) where such accommodation is situate at Bombay, Calcutta, Delhi or Madras, 50% of the amount of salary in respect of the relevant period; and
(ii) where such accommodation is situate at any other place, 40% of the amount of salary in respect of the relevant period,
whichever is the least.
Exemption is quantified in Rule 2A of Income Tax Rules, 1962 as under—
(a) the actual amount of HRA received by the assessee in respect of the relevant period; or
(b) Rent paid in excess of 10% of salary in respect of the relevant period; or
(c) an amount equal to—
(i) where such accommodation is situate at Bombay, Calcutta, Delhi or Madras, 50% of the amount of salary in respect of the relevant period; and
(ii) where such accommodation is situate at any other place, 40% of the amount of salary in respect of the relevant period,
whichever is the least.
09 February 2017
HRA exemption is to availed u/s 10(13A). It is not a part of Chapter VI A dedcutions.
Exemption is quantified in Rule 2A of Income Tax Rules, 1962 as under—
(a) the actual amount of HRA received by the assessee in respect of the relevant period; or
(b) Rent paid in excess of 10% of salary in respect of the relevant period; or
(c) an amount equal to—
(i) where such accommodation is situate at Bombay, Calcutta, Delhi or Madras, 50% of the amount of salary in respect of the relevant period; and
(ii) where such accommodation is situate at any other place, 40% of the amount of salary in respect of the relevant period,
whichever is the least.
Exemption is quantified in Rule 2A of Income Tax Rules, 1962 as under—
(a) the actual amount of HRA received by the assessee in respect of the relevant period; or
(b) Rent paid in excess of 10% of salary in respect of the relevant period; or
(c) an amount equal to—
(i) where such accommodation is situate at Bombay, Calcutta, Delhi or Madras, 50% of the amount of salary in respect of the relevant period; and
(ii) where such accommodation is situate at any other place, 40% of the amount of salary in respect of the relevant period,
whichever is the least.
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