Residantial accommodation
This query is : Resolved
gajendra singh rathore
(Querist)
23 April 2015
BASIC + 25% HRA PAID BY ABC CO. TO OUR ALL EMPLOYEES AND SOME EMPLOYEE AVAIL THE RESIDENTIAL FACILITY .
BUT 25% AMOUNT DEDUCT FROM SALARY AGAINST CHARGES OF RESIDENTIAL ACCOMMODATION WHICH ARE AVAIL THE RESIDENTIAL FACILITY, AND REST EMPLOYEE RECEIVED FULL AMOUNT WITH HRA.
MY QUESTION IS.
1 WHAT THIS IS A FREE ACCOMMODATION .
2 IF NO ,WHAT THE COMPANY WILL HAVE TO PAY SERVICE TAX ON RENT. RECD.
3 AND ACCOUNTING ENTRY OF CHARGES RECD. OF RESIDENTIAL ACCOMMODATION.
BUT 25% AMOUNT DEDUCT FROM SALARY AGAINST CHARGES OF RESIDENTIAL ACCOMMODATION WHICH ARE AVAIL THE RESIDENTIAL FACILITY, AND REST EMPLOYEE RECEIVED FULL AMOUNT WITH HRA.
MY QUESTION IS.
1 WHAT THIS IS A FREE ACCOMMODATION .
2 IF NO ,WHAT THE COMPANY WILL HAVE TO PAY SERVICE TAX ON RENT. RECD.
3 AND ACCOUNTING ENTRY OF CHARGES RECD. OF RESIDENTIAL ACCOMMODATION.
CA R SEETHARAMAN
(Expert)
23 April 2015
1.If free accommodation is given 15% of total salary will be taxed as perks.
2. No service tax payable on rent received for residential house.
3. Account is as rent received.
2. No service tax payable on rent received for residential house.
3. Account is as rent received.
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gajendra singh rathore
(Querist)
23 April 2015
that residential place under in 10Lacs Population.
so please tell use regarding preparation of Form 16 ( Salary)
1 first options is 7.5 % add as parks but that is no free accommodation because rent. charge by co.
2 second option less 10% of basic from rent paid and taken rebate under head HRA
so please tell use regarding preparation of Form 16 ( Salary)
1 first options is 7.5 % add as parks but that is no free accommodation because rent. charge by co.
2 second option less 10% of basic from rent paid and taken rebate under head HRA
gajendra singh rathore
(Querist)
23 April 2015
thanks for reply, sir
gajendra singh rathore
(Querist)
23 April 2015
thanks sir,
that residential place under in 10Lacs Population.
so please tell use regarding preparation of Form 16 ( Salary)
1 first options is 7.5 % add as parks but that is no free accommodation because rent. charge by co.
2 second option less 10% of basic from rent paid and taken rebate under head HRA
that residential place under in 10Lacs Population.
so please tell use regarding preparation of Form 16 ( Salary)
1 first options is 7.5 % add as parks but that is no free accommodation because rent. charge by co.
2 second option less 10% of basic from rent paid and taken rebate under head HRA
CA R SEETHARAMAN
(Expert)
23 April 2015
1. Add 7.5% and reduce rent charged by company.
2. If for company accommodation 10% rent is paid no HRA can be paid from the company.
HRA exemption can be claimed for the payment in excess of 10% of basic.
2. If for company accommodation 10% rent is paid no HRA can be paid from the company.
HRA exemption can be claimed for the payment in excess of 10% of basic.
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