Exemption u/s 10(13a)

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CA Roopashree Avinash (Querist)
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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?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 July 2013 How the negative amount arrived? what is the rent paid value.

Basic RS.693000 in that 10% is 69300. incase your rent paid value is below Rs.69300 then only negative will appear.

such as case HRA exemption is not available for that person

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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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