Hra exemption
This query is : Resolved
06 March 2014
I have not received HRA from Previous Employer bet now I'am receiving HRA from my current employer. I have paid Rent for Whole Financial year can I claim HRA for the whole Financial year.
06 March 2014
will given that HRA computation (for income tax purposes) is to be done on yearly basis, you may very well claim the deduction on basis of whole of the rent paid. Section 10(13A) doesnt prescribe any particular method for the computation.
The computation done by employers for monthly is only for convenience.
However, there is an alternative view that computation should be based on period basis ie the computation should reflect the change in parameters - like in your case it is the change from no HRA to HRA. in such a computation, you wont be able to take benefit of rent paid during the NO HRA period.
In absence of any provision from the tax department, you may go by first method if you wish to.
The computation done by employers for monthly is only for convenience.
However, there is an alternative view that computation should be based on period basis ie the computation should reflect the change in parameters - like in your case it is the change from no HRA to HRA. in such a computation, you wont be able to take benefit of rent paid during the NO HRA period.
In absence of any provision from the tax department, you may go by first method if you wish to.
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
- ITR 2 Short Term gain & Long term gain
- Itr 1 processing
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Building and other construction workers welfare cess act 1996
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- Delisted shares sold in off market/ Rebate u/s87A
- Error whiling application of GST REFUND (ANNEXURE B)
- While filing GSTR9 accountant couldn't entered the ITC values in Table 6, in 9C it is not accepting
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
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
