Rent Paid over 10% of Basic Salary
This query is : Resolved
Quick Summary
Vipul Acharya
(Querist)
22 June 2021
Whether for HRA calculation Rent Paid over 10% of Basic Salary to be calculated month wise or on aggregate basis, we have not paid salary in 2 months during last FY
CMA Poornima Madhava
(Expert)
22 June 2021
You may calculate month-wise in this case
Vipul Acharya
(Querist)
22 June 2021
But I have calculated on aggregate basis and deposited tax accordingly, what's the solution now
Do I need to recalculate and pay again the differential amount
Do I need to recalculate and pay again the differential amount
CMA Poornima Madhava
(Expert)
22 June 2021
You have mentioned that no salary has been paid for 2 months. If have already considered this fact while computing HRA exemption then not a problem.
Vipul Acharya
(Querist)
22 June 2021
In this case i have taken rent for 12 months and HRA for 10 months
Do I need recalculate TDS again, kindly confirm
Do I need recalculate TDS again, kindly confirm
CMA Poornima Madhava
(Expert)
22 June 2021
No, as you have considered HRA (awa Basic) for only 10 months, this is fine I think.
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