HRA calculation
Querist : Anonymous
1.calculation of HRA.
2.Salary includes what?
Exemption allowed shall be
Lower of:-
HRA Received
Rent Paid - (10% of Retirement Benefits Salary)
50% of Retirement Benefits Salary Delhi/Mumbai/Calcutta/Chennai
40% of Retirement Benefits Salary Any Other State
“Retirement Benefits Salary” means
a) Basic Pay
b) DA (If it forms part of Salary)
c) Commission of Fixed % on SALES
in your case salary will be 7275.
Querist : Anonymous
In the said case
1.how much amount i can take exemtion in IT
2.and under which section (i.e.in ITR)
your annual deduction will be 34920/
please calculate as per the formulla given above.
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