Hra exmption limit
This query is : Resolved
19 December 2014
Dear sir,
I am private school teacher. my salary is Rs.30000/-P.M.
Pleas tell me HRA exmption for income tax.
we take miuxum benifit from hra.
I am private school teacher. my salary is Rs.30000/-P.M.
Pleas tell me HRA exmption for income tax.
we take miuxum benifit from hra.
Amol S Joglekar
(Expert)
19 December 2014
A. Rent paid in excess of 10% of salary
B. 40% or 50% of salary (This depends upon the city where you stay
C. Actual HRA received
The least of the above is exempt. You need to calculate accordingly so as to avail the optimum benefit.
B. 40% or 50% of salary (This depends upon the city where you stay
C. Actual HRA received
The least of the above is exempt. You need to calculate accordingly so as to avail the optimum benefit.
Rupesh Jain
(Expert)
19 December 2014
40%(50% in delhi, Mumbai, Kolkata, Chennai) of basic salary
rent paid excess of 10% of basic salary
HRA received
whichever is less will allowed
rent paid excess of 10% of basic salary
HRA received
whichever is less will allowed
19 December 2014
agreed with above reply..................
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