A salaried Employee is in receipt of HRA. He has occupied a rental house for a period of 1 month.
How will I calculate the exemption under HRA? Whether Full year salary will be taken to calculate the 40% limit u/s 10(13A) or only 1 month salary will be taken?
Please clarify
Regards
Sheetal Goel
Full year salary will be taken for calculate 40% limit u/s 10(13A)
Whole salary of the year will be taken
Hi only one month salary should be taken 4 limit calculation. Pls refer to rule 2A https://law.incometaxindia. gov.in/DIT/File_opener.aspx? page=ITRU&schT=rul&csId= 5a8a11ff-94a6-4aea-b490- 5c005552eca6&rNo=&sch=&title= Taxmann%20-%20Direct%20Tax% 20Laws
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