Leased accomodation
This query is : Resolved
15 April 2012
Sir my name is S.Kiran Kumar I am working as AGM (Accts) in Food Corporation of India which comes under Public Sector Undertaking and my organization is providing Leased Accomodation ie., my employer is taking Lease Accomodation and providing the same to the employee and in the same manner my organization has taken Leased Accomodation @ 15000 Per Month and provided the same accommodation to me and inturn my organization is charging me Rs.370/- towards License Fee . So kindly guide me regarding calculation of Tax on Leased Accommodation with example and my gross income is Rs.5,00,000/-
16 April 2012
In case FCI is deducting 10% from your salary then no HRA will be calculated and it will not be added to your income otherwise the leased amount paid by FCI is a perquisite and to be added to your income.
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