House property
This query is : Resolved
18 December 2014
I am paying rent of rs. 9000/- p.m to my father so it will be self occupied for me so I can claim only the interest part i.e.rs. 150000/- but can I claim hra deduction u/s 80C? or the Interest which I claimed u/s 24b of house property?
CA R SEETHARAMAN
(Expert)
18 December 2014
If the house is owned by your father you can claim HRA. If the house is owned by you you can not claim HRA but you can claim interest.
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18 December 2014
can you please help me with hra calculation
rent paid by me rs. 9000 pm
hra given by employer rs. 105000
salary rs. 584600
metro city
how much to claim deduction?
do I have to include the rent paid by me in gross & show the deduction u/s 10 so it will net? or is there a separate deduction for hra after including the net amount in salary?
rent paid by me rs. 9000 pm
hra given by employer rs. 105000
salary rs. 584600
metro city
how much to claim deduction?
do I have to include the rent paid by me in gross & show the deduction u/s 10 so it will net? or is there a separate deduction for hra after including the net amount in salary?
CA R SEETHARAMAN
(Expert)
18 December 2014
Give monthly basic salary.
Rupesh Jain
(Expert)
18 December 2014
1) 40% of basis salary(50% for delhi, Mumbai Kolkata, Chennai)
2)rent paid excess of 10% of basis salary
3) HRA received
exemption will be which ever is less
2)rent paid excess of 10% of basis salary
3) HRA received
exemption will be which ever is less
19 December 2014
basic salary is 17500/- p.m. rent is 8750/- pm , profession tax is 2400 p.m also I invested 87621 in 80C , 15000 in 80D , interest on loan is 149152/-
19 December 2014
I am paying rent of rs. 9000/- pm to my father and I stay in metro city
19 December 2014
Computation prepared by me:
Total salary rs. 584600
Prequisite rs. 10000
House property 24(b) rs. (149152)
--------------
445448
deduction 10(13A) 87000 (hra rebate)
80C 87621
80D 15000
-------------
Taxable income 255827
Tax 582.7
rebate (2000)
education cess 42.52
--------
refund 1460
is it correct?
Total salary rs. 584600
Prequisite rs. 10000
House property 24(b) rs. (149152)
--------------
445448
deduction 10(13A) 87000 (hra rebate)
80C 87621
80D 15000
-------------
Taxable income 255827
Tax 582.7
rebate (2000)
education cess 42.52
--------
refund 1460
is it correct?
CA R SEETHARAMAN
(Expert)
19 December 2014
Your hra rebate is right. House is in the name of father how you are claiming interest.
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