RFA AND HRA
This query is : Resolved
01 February 2011
WHAT IS ACTUAL MEANING OF RFA AND HRA........PLS DONT TELL ME THE INCOME TAX RULES I JS WANT TO KNOW THE ACTUAL MEANING OF HRA AND RFA
CA. Lohith Jagadeesh
(Expert)
05 February 2011
Hi,
HRA - House Rent Allowance means an allowance given to the employee to help or reduce the burden of paying rent, it will be give as cash remuneration.
However
RFA-n Rent Free Accomadation means an accomadation given by the employer for which there will be no requirement of payment of Rent by the Employee.
(The Employer may own d accomodation or the Employer may take the accomation & pay the rent to the landlord and give it the employee for Free)
In simple terms for
HRA - Money will be given to the Employee for paying up his rent for Accomadation
RFA - Accomodation itself will be free i.e he will be getting the benefit in
KIND.
HOPE I HAVE RESOLVED UR ISSUE.
FOR FURTHER CLARIFICATION PLEASE JOIN MY COMMUNITY "Lo Aca"
Thankyou,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons, SAPM Hons
HRA - House Rent Allowance means an allowance given to the employee to help or reduce the burden of paying rent, it will be give as cash remuneration.
However
RFA-n Rent Free Accomadation means an accomadation given by the employer for which there will be no requirement of payment of Rent by the Employee.
(The Employer may own d accomodation or the Employer may take the accomation & pay the rent to the landlord and give it the employee for Free)
In simple terms for
HRA - Money will be given to the Employee for paying up his rent for Accomadation
RFA - Accomodation itself will be free i.e he will be getting the benefit in
KIND.
HOPE I HAVE RESOLVED UR ISSUE.
FOR FURTHER CLARIFICATION PLEASE JOIN MY COMMUNITY "Lo Aca"
Thankyou,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),ITF Hons, SAPM Hons
06 February 2011
thanku u so much sir...now i can differentiated both of them in verbally.... thanks
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