Tds on rent
This query is : Resolved
19 January 2013
Hi,
My Hra calaulation is as below
1 Actual HRA (as per basic) = 78000
2 50% of Basic(Delhi) = 78000
3 Rent>10% of Basic = 92400
Least of the above is exempted = 78000
How much amount of rent receipt i need to Give to my employer?
My Hra calaulation is as below
1 Actual HRA (as per basic) = 78000
2 50% of Basic(Delhi) = 78000
3 Rent>10% of Basic = 92400
Least of the above is exempted = 78000
How much amount of rent receipt i need to Give to my employer?
19 January 2013
tell us about salary
what is DA
I assue there is no DA
so rent recipt must be min 93600 so that it is more than 78000 than 10% of basic
what is DA
I assue there is no DA
so rent recipt must be min 93600 so that it is more than 78000 than 10% of basic
19 January 2013
How This is 93600?
I think if 78000 the least one is exempted than the rent receipt may be 6500/- per month or 78000 for annual.
I think if 78000 the least one is exempted than the rent receipt may be 6500/- per month or 78000 for annual.
19 January 2013
First do the calculations with rent 6500 p.m. and than 9000 p.m., you will get the reply, if not than i will explain.
Thanks and regards.
Thanks and regards.
19 January 2013
Thanks For Answering
I had done the calculation and got
6500*12=78000(Which is least & Exempted in above case)
9000*12=108000 (cant understand this)
Can u explain this?
I had done the calculation and got
6500*12=78000(Which is least & Exempted in above case)
9000*12=108000 (cant understand this)
Can u explain this?
19 January 2013
Step 1-- Data extraction from your query
Actual HRA received pm. = 78000/12 = 6500 pm.
Your basic salary yearly = 78000/50% = 156000
Your basic salary pm. = 156000/12 = 13000 pm.
10% of basic salary = 13000 X 10% = 1300 pm.
Step 2-- Calcultion of actual rent payment required to exempt hra of 6500 pm
taking actual rent as 6500 pm than
least of
1. Actual HRA = 6500 pm
2. 50% of basic = 6500 pm
3. rent paid less 10% of basic= (6500-1300)= 5200 pm.
hence if u pay rent of 6500pm than only 5200 will be eXempt.
Now try paying 7800 pm as rent
least of
1. Actual HRA = 6500 pm
2. 50% of basic = 6500 pm
3. rent paid less 10% of basic= (7800-1300)= 6500 pm.
So if u pay 7800 pm or more than 6500 pm is exempt.
9000 was provided so that u can meditate for the correct answer!
Thanks and regards.
Actual HRA received pm. = 78000/12 = 6500 pm.
Your basic salary yearly = 78000/50% = 156000
Your basic salary pm. = 156000/12 = 13000 pm.
10% of basic salary = 13000 X 10% = 1300 pm.
Step 2-- Calcultion of actual rent payment required to exempt hra of 6500 pm
taking actual rent as 6500 pm than
least of
1. Actual HRA = 6500 pm
2. 50% of basic = 6500 pm
3. rent paid less 10% of basic= (6500-1300)= 5200 pm.
hence if u pay rent of 6500pm than only 5200 will be eXempt.
Now try paying 7800 pm as rent
least of
1. Actual HRA = 6500 pm
2. 50% of basic = 6500 pm
3. rent paid less 10% of basic= (7800-1300)= 6500 pm.
So if u pay 7800 pm or more than 6500 pm is exempt.
9000 was provided so that u can meditate for the correct answer!
Thanks and regards.
19 January 2013
Dear Mohit
as Anurag explain 7800 x 12 = 93600
so I think you can understand why I said 93600
as Anurag explain 7800 x 12 = 93600
so I think you can understand why I said 93600
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- EPF FULL & FINAL RULES IN 2026
- Foreign lottery ticket bought online from India: legality, tax and consequences
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
