House Rent allowance

269 views
User Avatar

47 Points Posted on 15 February 2020
is the house rent allowance not applicable for assessment year 2020-21
0 Reply Share Follow
On 15 February 2020 at 16:06 Report
Replies (3)
Quick Summary
The House Rent Allowance (HRA) exemption under section 10(13A) is applicable for Assessment Year (AY) 2020-21. For AY 2021-22 onwards, HRA exemption remains available if you choose the old tax regime. However, opting for the new tax regime (section 115BAC) means you cannot claim HRA exemption.

User Avatar

Proprietor
32 Points Posted on 15 February 2020
Choice is.provided in budget. whether you want to take Benefit of various section or.give up
Reply
On 15 February 2020 at 17:10
User Avatar

47 Points Posted on 15 February 2020
But it's for AY 2021-22
Reply
On 15 February 2020 at 17:29
User Avatar

service
719 Points Posted on 15 February 2020

The exemption for House Rent Allowance u/s 10(13A) is squarely applicable for AY 2020-21.

From AY 2021-22, if you remain in the old regime of taxation then exemption for House Rent Allowance u/s 10(13A) will apply. However, if you opt for the new tax regime as provided under section 115BAC then you will not be able to claim the exemption for House Rent Allowance u/s 10(13A).

Hope this clarifies.

Sujit Talukder

www.taxcorner.co.in

Reply
On 15 February 2020 at 18:55

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. CA Fees deduction for non audit case allowed?
  2. 5th Letter PAN Mismatch with Surname issues still
  3. Criteria to hire an article
  4. Guidence requested for a Finance Professional with
  5. Expert Opinion Required – Form 140 Gross Amo
  6. WRONG TAX DEMAND - formal responses , rectificatio
  7. Foreign remittance
  8. Affordable Residential Flats in Gurgaon
  9. Manufacturing
  10. TAN REGISTRATION ON E-FILLING SITE

More recent discussions | Post

Related Topics :

Loading