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Hra

This query is : Resolved 

12 December 2013 Sir,
company has alloted quarters and also given hra. but incometax point of view hra exemption taken or not?

12 December 2013 HRA not exempt and also 7.5% to 15% of salary will be include in your salalry for rent free house.
population on 2001 if 25 lakh than 15%
10-25laks than 10%
any other 7.5% on salalry for the period when you have house.


12 December 2013 HRA (SEC - 10(13A) AND RULE 2A)
EXEMPTION SHALL BE MINIMUM OF THE FOLLOWING
1) ALLOWANCE RECEIVED
2) RENT PAID IN EXCESS OF 10% OF SALARY
3)40 % OF SALARY

WHICH EVER IS LESS

MR. X IS NOT PAYING RENT HOW CAN U TAKE EXEMPTION.


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