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Hra

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

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Rupesh Jain (Expert)
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.
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TRINATH

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TRINATH (Expert)
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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