HRA
This query is : Resolved
27 May 2011
Our public limited company registered office at Mumbai and Head office at New Delhi. I am working at Bharuch (Gujarat) in company’s branch office. My company paid to HRA 50% on my basic salary. Bharuch is not a metro city where I am working. As per my knowledge my HRA is 40% on basic. Am I right?
Navin
Navin
27 May 2011
There is no specific ratio of percentage of HRA based on basic salary.
HRA can be 10% 20% or more,
as per section 10(13A) read with rule 2A ,least of following three will be exempted
1. House Rent allowance (HRA) received.
2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) and 40 % of salary in in any other case.
3. Rent paid in excess of 10 % of salary.
HRA can be 10% 20% or more,
as per section 10(13A) read with rule 2A ,least of following three will be exempted
1. House Rent allowance (HRA) received.
2. 50% of salary in case of residential accommodation taken on rent is situated in Bombay ,Calcutta ,Delhi, or Madras (Chennai) and 40 % of salary in in any other case.
3. Rent paid in excess of 10 % of salary.
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