HRA Exemption
This query is : Resolved
30 January 2010
I have querry about HRA Exemption.
If Employer Paid HRA Rs.14000/- per month to Employee. Employee paid House Rent and submit the house rent receipt for Rs.12,500/- per month for exemption of TDS on Salary. after calcuating as per HRA Calculater amount of Exemption is Rs.6000/- per month. Hence yearly is 72000/- p.a.
But as per Income Tax rules - Which ever is lesser formula - HRA Exemption leset to Rs.2,000/- p.m. In this case, can we get exemption of Rs.6000/- per month or Rs.2000/- per month.
kindly suggest.
Read more: https://www.simpletaxindia.org/2008/03/hra-exemption-how-to-calculate.html#ixzz0e4iKVwLr
Under Creative Commons License: Attribution
If Employer Paid HRA Rs.14000/- per month to Employee. Employee paid House Rent and submit the house rent receipt for Rs.12,500/- per month for exemption of TDS on Salary. after calcuating as per HRA Calculater amount of Exemption is Rs.6000/- per month. Hence yearly is 72000/- p.a.
But as per Income Tax rules - Which ever is lesser formula - HRA Exemption leset to Rs.2,000/- p.m. In this case, can we get exemption of Rs.6000/- per month or Rs.2000/- per month.
kindly suggest.
Read more: https://www.simpletaxindia.org/2008/03/hra-exemption-how-to-calculate.html#ixzz0e4iKVwLr
Under Creative Commons License: Attribution
30 January 2010
HRA Exemption least of the below
1.Actual HRA
2.40 % of salary (50% incase of metro)
3.Rent paid less 10 % of salary
Salary means - Basic pay, Dear allowance if the term of employment provide,commission based on the fixed percentage of turnover
based on this you can calculate
1.Actual HRA
2.40 % of salary (50% incase of metro)
3.Rent paid less 10 % of salary
Salary means - Basic pay, Dear allowance if the term of employment provide,commission based on the fixed percentage of turnover
based on this you can calculate
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
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- REGARDING ITR FILING QUESTION
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- PF wage ceiling
- Correction in TDS return New Traces Portal
- TDS refund Indemnity Bond
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
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
