Sekar Rangaswamy (20 Points)
11 July 2018Dear Sir,
My Son is employed in a Private Limited company and is a Income Tax Payer. His Gross Salaary is Rs 14 Lakhs per annum. In the form 16, given by the company for this ay 2018 - 2019,they have shown the Gross Salary, Conveyance and LTA. and not the HRA. But actually he is paying rent of Rs 12,000/ per month.
In the return to be filed by him, how he has to show this HRA, What is the amount he is eligible for.
2. He doesnt own any property nor his spouse.
Pl suggest.
Regards.
Anjali P Nair
(ACA,ACMA)
(582 Points)
Replied 11 July 2018
If he is receiving HRA then only he can claim exemption for the same. if his gross salary includes HRA then exemption under section 10(13A) is least of the following.
1.Actual HRA received
2.Rent paid-10% of salary(basic+DA forming part of salary)
3.50% of [basic salary + DA] for those living in metro cities (40% for non-metros);
aakash kamlani
(student)
(32 Points)
Replied 11 July 2018
Sekar Rangaswamy
(20 Points)
Replied 14 July 2018
Thanks to Anjali Nair and Aakash Kamlani for their valuable reply
CAclubindia
