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?
company has alloted quarters and also given hra. but incometax point of view hra exemption taken or not?
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.
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.
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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