Shivaksh Somani (Student CA IPC / IPCC) (56 Points)
23 July 2016
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 23 July 2016
for total 2 months it will be calculated as per actuals in parts so fy yearly allowance, divide it by actual month stayed
Dinesh Mertiya
(PROFESSIONAL)
(761 Points)
Replied 23 July 2016
No,
Either HRA or deduction under section 80GG can claim, subject to provision of Income tax Act
Dinesh Mertiya
(PROFESSIONAL)
(761 Points)
Replied 23 July 2016
i want to ask that if HRA is received from 2 employer in same year than how to compute HRA ?
for calculation of HRA (exemption),
HRA received in respect of the period during the rental accommodation is occupied by employee during the year
Shivaksh Somani
(Student CA IPC / IPCC)
(56 Points)
Replied 25 July 2016
Dinesh Mertiya
(PROFESSIONAL)
(761 Points)
Replied 25 July 2016
If you have received HRA from two employers, then it should be calculated on the basis of Period during which the rental accommodation is occupied by employee during the previous year
Calculation for HRA shall be done separately for 2 months and for 10 months, subject to section 10(13A)
HRA is exempt under section 10(13A)
the least of the following is exempt from tax
1. an amount of 50% (in case of house is situated at Bombay, Calcutta, Delhi and Madras) or 40% (in case of house is situated at other than Bombay, Calcutta, Delhi and Madras) of salary
2. HRA received by employee in respect of the period during which the rental accommodation is occupied.
3. the excess of rent paid over 10% of salary
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