Hra calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 February 2013
Dear Sir,
I am filling my income tax salary return. I have no any investment. So, i am thinking that i should take exemption of HRA. But unfortunately I don't know how to calculate it actually. Do you help me to solve the same.
basic salary = 6600
DA = 0
TPT Alw = 800
oth = 15564
HRA Receive from co = 4036/- p/m
total 27000/-
But House rent paid by me = 5000/- p/m
Then how amount, which i can take exemption in incometax return.
Regards,
Rahul Kumar Mehra
I am filling my income tax salary return. I have no any investment. So, i am thinking that i should take exemption of HRA. But unfortunately I don't know how to calculate it actually. Do you help me to solve the same.
basic salary = 6600
DA = 0
TPT Alw = 800
oth = 15564
HRA Receive from co = 4036/- p/m
total 27000/-
But House rent paid by me = 5000/- p/m
Then how amount, which i can take exemption in incometax return.
Regards,
Rahul Kumar Mehra
17 February 2013
your exemption amount depend on the place where you resides
HRA is subject to lower of the 3 and its 1st condition is
An amount equal to 50 per cent of salary, where residential house is situated at Mumbai, Kolkata, Delhi or Chennai and an amount equal to 40 per cent of salary, where residential house is situated at any other place.
Lower of the below
(i) 106387 or 132984
(ii) 48432
(iii) 33403
it is Rs.33403/- so Rs.15029/- is taxable
1.provided you have been in rented house for the whole year
and also provided these monthly amounts are same through out the year.
HRA is subject to lower of the 3 and its 1st condition is
An amount equal to 50 per cent of salary, where residential house is situated at Mumbai, Kolkata, Delhi or Chennai and an amount equal to 40 per cent of salary, where residential house is situated at any other place.
Lower of the below
(i) 106387 or 132984
(ii) 48432
(iii) 33403
it is Rs.33403/- so Rs.15029/- is taxable
1.provided you have been in rented house for the whole year
and also provided these monthly amounts are same through out the year.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- DIN reactivation
- TDS Return Q1 FY 2026-27
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
