hra
This query is : Resolved
CA. Lohith Jagadeesh
(Expert)
26 March 2011
Hi,
Calculation of HRA is as follows
Particulars Amt
Actual HRA Received xxxx
Least of the Following is exempt
under Section 10(13A)
1)Actual HRA xx
2)Rent paid - 10% of Salary* xx xx
3)50% or 40% of Salary* xx _______
Taxable HRA xxxx
Note
* Salary means
BAsic Salary + D.A { if it enters into Retirement benefits } + Fixed % of Commission on Turn Over acheived by the Employee
THE EQUATION IS GIVE BY A CASE LAW
" Gestetner Duplicators (P) Ltd
- ITR 117 Vol 1, 1979 SC "
50 % for Cities in Mumbai, Delhi, Kolkata & Chennai.
40% for the remaining cities
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Calculation of HRA is as follows
Particulars Amt
Actual HRA Received xxxx
Least of the Following is exempt
under Section 10(13A)
1)Actual HRA xx
2)Rent paid - 10% of Salary* xx xx
3)50% or 40% of Salary* xx _______
Taxable HRA xxxx
Note
* Salary means
BAsic Salary + D.A { if it enters into Retirement benefits } + Fixed % of Commission on Turn Over acheived by the Employee
THE EQUATION IS GIVE BY A CASE LAW
" Gestetner Duplicators (P) Ltd
- ITR 117 Vol 1, 1979 SC "
50 % for Cities in Mumbai, Delhi, Kolkata & Chennai.
40% for the remaining cities
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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