Hi,
I am a salaried individual. Till last year I was solely claiming HRA for the rented accomodation I am currently living in. With current renewal of my rent agreement, I would like to claim HRA partially for myself and partially for my wife. The landlord has agreed for the same. However from an intex tax perspective, request the members to answer following queries:
1.) Since wife's income is much less than mine, I would like to divide the HRA in the ratio 30%:70%. Is this valid. or 50:50 is the only option? Do i need to include this in my rent agreement?
2) The declaration of investment has already been done in our organization, do we need to inform our employer about the same and get the HRA component of salary changed? Our total rent is more than 40% of our basic salary which is the minimum of the 3 HRA calculation clauses)
CAclubindia
