Perquisites
This query is : Resolved
04 January 2010
Due to new amendments in the perquisites, please tell whether the HRA exemption on producing Rent receipt and Transport Allowance Rs 800/- is still exempted or we have to charge for tax
Regards
GIrish
Regards
GIrish
04 January 2010
Hiii....
Both HRA & Transport Allowance are not perquisites and Still will be computed according to previous rules.
Therefore, HRA will be computed under rule 10(13A)for exemption purpose and Transport Allowance is Still exempt Rs. 800pm.
HRA will be exempt LEAST of the following:
(i) HRA received
(ii) Rent Paid - 10% of Salary
(iii) 50% or 40% of Salary
NOTES:
a) Here Salary includes Basic Salary+DA(if)+Commission on turnover
b)50% if Residence is in Metro City Otherwise 40%
Regards!!!
Dinesh S. Adhikari
Both HRA & Transport Allowance are not perquisites and Still will be computed according to previous rules.
Therefore, HRA will be computed under rule 10(13A)for exemption purpose and Transport Allowance is Still exempt Rs. 800pm.
HRA will be exempt LEAST of the following:
(i) HRA received
(ii) Rent Paid - 10% of Salary
(iii) 50% or 40% of Salary
NOTES:
a) Here Salary includes Basic Salary+DA(if)+Commission on turnover
b)50% if Residence is in Metro City Otherwise 40%
Regards!!!
Dinesh S. Adhikari
05 January 2010
there is no change in HRA Exemption, the exemption will continue as provided in rule 10 (13A), regarding transport llowance the exemption limit of Rs. 800.00 p.m. will continue. it is mention that very soon the limit is being raised to Rs.3200 p.m., an order from ministry of finance is epected.
05 January 2010
Agree with the expert
05 January 2010
dear sir,
there HRA will be computed under rule 10(13A)for exemption purpose and Transport Allowance is Still exempt Rs. 800pm and no change will be on exemption.
RAMESH
dear sir,
there HRA will be computed under rule 10(13A)for exemption purpose and Transport Allowance is Still exempt Rs. 800pm and no change will be on exemption.
RAMESH
05 January 2010
Yes, HRA is exempted subject to conditions laid down in sec.10 (13A) and transport allowance is exempt up to Rs. 800/- p.m.
05 January 2010
Yes, HRA is exempted subject to conditions laid down in sec.10 (13A) and transport allowance is exempt up to Rs. 800/- p.m.
06 January 2010
HRA and Transport allwance not perks there is no change in exemption
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