Hra calculation
This query is : Resolved
Satish Yogi
(Querist)
25 December 2013
Dear Sirs
I wants to ask that a company giving HRA Rs.20000/- and house rent reimbursement rs.25000/-
Basic Salary of the employee is Rs.35000/-
what is the deduction of HRA and treatment of Reimbursement of Rent.
Thanks
Satish Kumar
I wants to ask that a company giving HRA Rs.20000/- and house rent reimbursement rs.25000/-
Basic Salary of the employee is Rs.35000/-
what is the deduction of HRA and treatment of Reimbursement of Rent.
Thanks
Satish Kumar
CMA Ramesh Krishnan
(Expert)
25 December 2013
Need to considered as HRA Rs.45000 ( HRA + Rent reimbursement)
Actual HRA - Rs.45000
Rent paid less 10% of Basic Salary - Rs.25000 less Rs.3500 = Rs. 21500/-
40% Basic salary Rs.14000
so lower of the above Rs.14000/- can be claimed as HRA exemption u/s.10(13A)
Actual HRA - Rs.45000
Rent paid less 10% of Basic Salary - Rs.25000 less Rs.3500 = Rs. 21500/-
40% Basic salary Rs.14000
so lower of the above Rs.14000/- can be claimed as HRA exemption u/s.10(13A)
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