Treatment Of Rent

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Praveen CP (Querist)
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03 April 2010 Hello , One of my aunt works for a bank in Bangalore . She has taken a house for Rent @ Rs.7000/- per month. The Bank Reimburses Rs.4700/- per month out of Rs.7000/- . This Rs.4700/- pm is no where shown in her Salary Slip . However Rs.2088/- has been deducted for the entire year as House rent recovery. The House is not owned by the bank and the rental agreement is in her personal name itself . How shall this situation take effect in her computation ? HRA exemption cannot be availed as HRA does not become a part of her salary. Is it treated as a perquisite ? what amount is taxable and what exemptions can she claim ? is Section 80GG applicable to her ??

Thanks

Regards

Praveen

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 April 2010 my view .if it is not covered in payslip and it is nature of reimbursment and also personal nature it is taxable perqusite only.so she cannot take HRA exemption,she can claim Deduction sec.80GG

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