dear sir/s,
1)For salareid employess HRA received from employeer can be deduct as full exemption from gross salary? (in my case HRA recd.is Rs.57,060)
2) is the deduction u/s 80c is 1.00 lakh and 80ccc is 1.00lakh or both togther 1.00 lakh?
3) what is the amount of deducions for housing laon principal and interest?
kindly help me inthis regard.
Thanking You
sincerely
prabhakar
HRA is expempted u/s 10 (13A) and rules A :- in three statement which ever is less then that amount is exempted.
i) 50% of basic salary in metrocity and 40 % in non metro city.
ii) Rent paid Less-: 10% of basic salary
iii) HRA received.
2. Exemption u/s 80C+80CCC =1 Lakh.
3. principle expemption upto Rs. 1 lakh u/s 80 C & interest exemption u/s 24 up to Rs. 150000/-
CAclubindia
