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House Rent allowance
is the house rent allowance not applicable for assessment year 2020-21
Replies (3)
Quick Summary
Choice is.provided in budget. whether you want to take Benefit of various section or.give up
But it's for AY 2021-22
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
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