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Tds for hra and conveyance

This query is : Resolved 

10 April 2014 pl explain whether HRA and conveyance are exempted from the TDS scheme.If so what percentage each ?

10 April 2014 Hi Chidambaram,


HRA - least of below is exempted

1. Actual HRA received
2. Rent paid less 10% of Salary
3. If residence is in metro 50% of salary elsewhere 40% of salary

(Salary for this purpose = Basic + D. A.)

Conveyance is exempted upto Rs.800 per month


Regards,
Devanand

10 April 2014 Correct devanand....


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