Rent Free Accommodation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2011
Dear Expert
I live in Gurgaon. My company has provided me with a rent free accommodation (unfurnished). The house is not owned by the company. My employer pays a rent of Rs 15,000 per month. I get a monthly HRA of Rs. 8000. I undersatnd that when company provides such an accomodation, 15% of gross salary is added back to the taxable income. my doubt is, how is such an arrangement benefitting me?? not only 15% is added back to my income, but all my hra comes under the sccope of taxable income!!! plz help!!!
I live in Gurgaon. My company has provided me with a rent free accommodation (unfurnished). The house is not owned by the company. My employer pays a rent of Rs 15,000 per month. I get a monthly HRA of Rs. 8000. I undersatnd that when company provides such an accomodation, 15% of gross salary is added back to the taxable income. my doubt is, how is such an arrangement benefitting me?? not only 15% is added back to my income, but all my hra comes under the sccope of taxable income!!! plz help!!!
CMA Ramesh Krishnan
(Expert)
08 March 2011
1. Your HRA is fully taxable
2. 15% of gross salary need to be added as taxable perqusite in your salary income
2. 15% of gross salary need to be added as taxable perqusite in your salary income
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