HRA Exemption
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 April 2010
If in HRA under Salary the least Amt. becoes -ve,what is the exemption limit??
Plz. answer as soon as possible.
e.g.1)50% Or 40% of salary
2)The amt. of HRA Actually Received
3)Rent paid -10% of salary
Among the above three the least amt. is exempted,But say if the 3rd amt. comes negative,then being least what should be the exempted amt?????
Plz. answer as soon as possible.
e.g.1)50% Or 40% of salary
2)The amt. of HRA Actually Received
3)Rent paid -10% of salary
Among the above three the least amt. is exempted,But say if the 3rd amt. comes negative,then being least what should be the exempted amt?????
Rahul Gupta
(Expert)
06 April 2010
Zero......
CA Ravi Sisodia
(Expert)
06 April 2010
Nil
CA Kapil B Gupta
(Expert)
07 April 2010
Exempt amount will be zero. It means the actual amount of HRA received will be fully taxable.
07 April 2010
AGREE
CA.Nikhil Gupta
(Expert)
07 April 2010
agree
CMA Ramesh Krishnan
(Expert)
08 April 2010
agree.Exemption is Zero
CMA Arif Farooqui
(Expert)
10 April 2010
agree.Exemption is Zero. if 3rd amount comes to zero, still no exemption of HRA
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