SALARY TDS WORKING
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2010
SALARY BIFERCATION IS AS UNDER PER MONTH
BASIS 20000
HRA 10000
MEDICAL 5000
LTA 7000
CONVEYANCE 1000
TOTAL 43000
IN EVERY MONTH PAYING RENT CHEQUE FOR RS.7000/- IN EMPLOYEES NAME.
CAN WE CONSIDER AS A PERQUISITES?
EMPLYEE PAID RENT TO OWNER OF HOUSE AND HE PROVIDING US RENT RECEIPT IN HIS FAVOUR RS.7000/-(RECD FROM OWNER OF HOUSE )
CAN THIS EMPLOYEE GET EXEMPTION U/S 10 AGAINST HRA? & HOW MUCH AMT?
BASIS 20000
HRA 10000
MEDICAL 5000
LTA 7000
CONVEYANCE 1000
TOTAL 43000
IN EVERY MONTH PAYING RENT CHEQUE FOR RS.7000/- IN EMPLOYEES NAME.
CAN WE CONSIDER AS A PERQUISITES?
EMPLYEE PAID RENT TO OWNER OF HOUSE AND HE PROVIDING US RENT RECEIPT IN HIS FAVOUR RS.7000/-(RECD FROM OWNER OF HOUSE )
CAN THIS EMPLOYEE GET EXEMPTION U/S 10 AGAINST HRA? & HOW MUCH AMT?
CMA Ramesh Krishnan
(Expert)
03 August 2010
If company paying rent apart from the HRA the total HRA will be taxable and valuation of rent free accomdation perquisites need to be valued as per valuation rules
If the employer not paying rent Emplyee paying the rent and producing the rent receipt against HRA , then HRA exemption can be taken, in such case the HRA exemption will be Rs.5000 per month (both Metro and non metro case)
If the employer not paying rent Emplyee paying the rent and producing the rent receipt against HRA , then HRA exemption can be taken, in such case the HRA exemption will be Rs.5000 per month (both Metro and non metro case)
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