IT benefit
This query is : Resolved
23 October 2009
Hi.. Sir..
My query is, One of our employee’s husband taken home loan & loan amount paid by him and he is getting IT benefit. Both or staying in own house only. Both are working different companies. She want's to avail rent benefit on here salary. Is it possible to get the benefit.. which clause or section can avail / can not avail the benefit...
I am awaiting your reply.
Phani Kumar,
Medvarsity Online Limited
My query is, One of our employee’s husband taken home loan & loan amount paid by him and he is getting IT benefit. Both or staying in own house only. Both are working different companies. She want's to avail rent benefit on here salary. Is it possible to get the benefit.. which clause or section can avail / can not avail the benefit...
I am awaiting your reply.
Phani Kumar,
Medvarsity Online Limited
11 November 2009
No she can not get the benefit. consider the following :
as per section 10(13A) read with Rule 2A, the HRA received by the employee is exempt to the extent of least of the following three :
a. 40% or 50% of the salary XX
b. HRA received by the employee XX
c. excess of rent paid over 10% of
salary XX
whichever is less
now, since she is not paying any rent, condition 'c' above will be nil amount and it being the lowest, HRA will not exempt u/s 10(13A). also she can not even claim deduction u/s 80GG as her husband owns a house in that locality.
thanks and regards,
CA Shakuntala Chhangani
as per section 10(13A) read with Rule 2A, the HRA received by the employee is exempt to the extent of least of the following three :
a. 40% or 50% of the salary XX
b. HRA received by the employee XX
c. excess of rent paid over 10% of
salary XX
whichever is less
now, since she is not paying any rent, condition 'c' above will be nil amount and it being the lowest, HRA will not exempt u/s 10(13A). also she can not even claim deduction u/s 80GG as her husband owns a house in that locality.
thanks and regards,
CA Shakuntala Chhangani
22 December 2009
Thank you very much madam...
Phani Kumar
Phani Kumar
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