Rent free accomodation vs hra
This query is : Resolved
14 February 2012
My company provided an accomodation which is owned by company and they deducted my entire HRA part of my salary against allotment for the period.
Can it be considered as rent free accomodation during that period.
Shall I have to consider 20% of my salary as taxable for that period of stay when my HRA been deducted. Please mention any clause of IT for my help.
Can it be considered as rent free accomodation during that period.
Shall I have to consider 20% of my salary as taxable for that period of stay when my HRA been deducted. Please mention any clause of IT for my help.
CA PARAS BAFNA
(Expert)
15 February 2012
The company might be showing that house as Rent Free or concessional house (RFH) to you, and the amount is shown as being recovered from the employee .i.e. from you.
.
In such a case the HRA is getting taxable as your salary but the perquisite from RFH, is getting reduced by an equal amount of so called HRA. .
.
For more clarification you may seek guidance from the Divisional Officer in your company.
.
In such a case the HRA is getting taxable as your salary but the perquisite from RFH, is getting reduced by an equal amount of so called HRA. .
.
For more clarification you may seek guidance from the Divisional Officer in your company.
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