exemption of income tax

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ajaykumargoyal (Querist)
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16 January 2010 I am a govt. servant and own a house in Delhi alongwith my father in which my share is 2/3 and share of my father is 1/3. I am paying a monthly rent of Rs. 5000/- (which is 1/3rd of the market rent of the house of Rs. 15000/-) to my father towards 1/3 share held by him. I will be receiving HRA of Rs. 78,864/- for the year 2009-2010. My total annual income including basic pay, Grade pay, DA arrears and DA is Rs. 4,60,041/- for the year 2009-2010. pleaseintimate me the HRA exemption which can be claimed by me on paying rent of Rs. 60,000/- to my father. An urget reply is requested please.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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16 January 2010 It can be claim, provided the same Rental income showing your father`s return

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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18 January 2010 Agreed....

computation will be as per sec 10(13)A.

Lease of the following will be exempt from whatever amount you are getting as HRA:

a)HRA Amount
b) Rent paid - 10% of salary
c) 50% of salary

Please Note:
1) Here salary means "BASIC+DA+COMMISSION"

Regards!!!

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