Rent deduction in itr1 sahaj
This query is : Resolved
Chetan jumani
(Querist)
21 March 2017
Dear Sir,
there is no tds deduct by employer from my salary for ay-15-16 my in hand annual salary was rs-390507/-, but my house rent was rs-7000/-pm so how can i put rent amount in itr saral ? can i direct deduct rent amount from salary and remain amount put in (income from salary IN B1 )...........ITS URGENT PLSSS
there is no tds deduct by employer from my salary for ay-15-16 my in hand annual salary was rs-390507/-, but my house rent was rs-7000/-pm so how can i put rent amount in itr saral ? can i direct deduct rent amount from salary and remain amount put in (income from salary IN B1 )...........ITS URGENT PLSSS
CA Shubhanshu Jain
(Expert)
21 March 2017
As such no deduction is allowed from salary income, accordingly house rent is not allowed to be deducted from Salary income and full salary is taxable. However, if you are receiving HRA (House Rent Allowance) you can claim exemption of same in following manner :
Least of the following is exempt
- Rent paid over 10% of salary (in your case Actual rent paid-39051)
- 40% of salary (40% of 390507)
- Actual HRA Received.
Least of the following is exempt
- Rent paid over 10% of salary (in your case Actual rent paid-39051)
- 40% of salary (40% of 390507)
- Actual HRA Received.
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