Hi Friends,
Greetings of the day.
I have one query on which i need your advice.
One person is a partner in a partnership firm. He is getting salary along with HRA. Now, i want your opinion on availability of HRA Exemption to such person. Whether exemption is still allowed even if his salary income is taxable under head 'Profits and Gains of Business & Profession'.
no.Interest and remuneration received from firm is taxable as Business income not taxabole under the head salaries.so H.R.A exemption can not be claimed.
Shaswat initial support private limited
Ahmedabad
CS
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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CMNITY HIRE
New Delhi
Others
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CAclubindia
