Hra exemption

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 May 2012 Dear Sir,

Here i give some detail about my office employee of house rent allowance

Actual HRA received - 146793
40% of Salary(293590*40%) - 117436
Actual Rent Paid- 10% of salary
(10000*11=110000-293590*10%) - 80641

Sir please tell me that is it right calculation and what is the exempted amount u/s 10(13A)

CA Rama koti Reddy

CA Rama koti Reddy (Expert)

04 May 2012 Please check the below table for the HRA allowance calculation.

Here the point to be noted that Rent paid means rent actual paid or payable.

And in the question you have considered only 11 months for the rent paid.you get clarify that whether occupation is for 11 months or rent paid for 11 months.

Due to that non avilability of information i am giving month wise and year wise calculations to you.

check it ...

Statement of HRA Allowance Caluculation
Particulars Amount in Rs Amount in Rs Per Month
Basic Salary 293590
i)HRA Received ( 50 % of basic) 146795 12232.92
ii)40 % of Basic Salary 9786.33
iii) Rent paid in excess of 10 % of Salary 7553.42

Least of the above 7553.42
HRA Allowance U/S 10 ( 13A) per month 7553.42
HRA Taxable per Month 4679.50
HRA Allowance U/S 10 ( 13A) per year 90,641
HRA Taxable per year 56,154

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