27 July 2013
40% of the basic: 693,000, Actual HRA 900,000, excess of rent paid over 10% of the basic is -11,300. Is the assessee eligible for HRA exemption u/s 10(13A) because of the negative figure?
28 July 2013
There is a straight forward condition.
. No HRA exemption is allowed when the rent paid is below 10% of Basic Salary +DA(T). . It is expected by the law that at least 10% of salary should be borne by the assessee. .
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