Hra
This query is : Resolved
24 August 2013
Would like to know how can i give maximum benefit in HRA
For example:one of our employee details _
1.Monthly HR allowance : 6922 (40 % of basic)
2.employee is paying rent of 12000 pm
3.employee gross salary is 7.71 lac + 1 lac is bonus.
Pls note the above is per month details of an employee. Help me to know how much exepmtion can given to employee for this financial year.
Thank you.
For example:one of our employee details _
1.Monthly HR allowance : 6922 (40 % of basic)
2.employee is paying rent of 12000 pm
3.employee gross salary is 7.71 lac + 1 lac is bonus.
Pls note the above is per month details of an employee. Help me to know how much exepmtion can given to employee for this financial year.
Thank you.
24 August 2013
HRA exemption in this case Rs.6922 which is actual HRA
HRA exemption under sec.10(13A) is
least of the below
1.Actual HRA -Rs.6922
2. Rent paid less 10% of basic salary= 12000-1731 = Rs. 10269
3. 40% of basic salary Rs. 6922
so lease is Rs.6922
HRA exemption under sec.10(13A) is
least of the below
1.Actual HRA -Rs.6922
2. Rent paid less 10% of basic salary= 12000-1731 = Rs. 10269
3. 40% of basic salary Rs. 6922
so lease is Rs.6922
Message likes :
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26 August 2013
Thanks Mr Krishnan
The third calculation is 40 % of basic or 40% of total eatrnings (gross salary)?.
Pls confirm monthly hra is 6922 so if i calculate for full year than it woould be 6922*12=83064. pls confirm if this correct ?
The third calculation is 40 % of basic or 40% of total eatrnings (gross salary)?.
Pls confirm monthly hra is 6922 so if i calculate for full year than it woould be 6922*12=83064. pls confirm if this correct ?
26 August 2013
yes. your calculation is correct
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