Rented accomodation provided by employer
This query is : Resolved
CA Neha Jain
(Querist)
21 September 2011
Company has taken a flats on rent and provided it to employees. Company recovers the full rent paid for these flats from employees.
Employees also get HRA as part of the salary.
Qurry: Will this be treated as perquisite or normal exemption from HRA will be given to employee.
Employees also get HRA as part of the salary.
Qurry: Will this be treated as perquisite or normal exemption from HRA will be given to employee.
21 September 2011
Company is not providing therefore, the Rent Free Accommodation to the employees hence no perquisite in the hands of employees.
HRA Rules for exemption will be applicable as prescribed, however while calculating the exemption care needs to be taken as regards the condition of rent paid in excess of 10% of salary, here rent will be the rent being paid by employees to the company against rent receipts.
HRA Rules for exemption will be applicable as prescribed, however while calculating the exemption care needs to be taken as regards the condition of rent paid in excess of 10% of salary, here rent will be the rent being paid by employees to the company against rent receipts.
Rahul Mehta
(Expert)
21 September 2011
agree with CMA Ashutosh
CA Neha Jain
(Querist)
21 September 2011
Thanks Ashutosh for your valuable comment
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