18 August 2012
I have recd salary for f y 11-12 as under
April to Sept 11 Basic Rs.50,000/- p m April to Sept 11 HRA Rs.15,000/- p m Oct 11 to Mar 12 Basic Rs.55,000/- p m Oct 11 to Mar 12 HRA Rs.20,000/- p m
I am paying Rs.14,000/- as rent under leave license agreement.
I want to know what amot is exempt as HRA and taxable salary ?
18 August 2012
least of A: HRA actually received B:rent paid in excess of 10% of salary and C: 50% or 40% (as per the city in which you are)of the salary