In HRA deduction, the last condition is : Excess of rent paid over 10 percent of salary.
If the actual rent paid is only for five months, then whether to consider 10% of salary for five months or for 12 months?
In HRA deduction, the last condition is : Excess of rent paid over 10 percent of salary.
If the actual rent paid is only for five months, then whether to consider 10% of salary for five months or for 12 months?
5 months salary shall be considered.
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As per Rule 2A of the Income-tax Rules, "....one-tenth of the amount of salary due to the assessee in respect of the relevant period....", and
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relevant period means the period during which the said accommodation was occupied by the assessee during the previous year.
| Originally posted by : |)eep @ k Gupt/\ | ||
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5 months salary shall be considered. . As per Rule 2A of the Income-tax Rules, "....one-tenth of the amount of salary due to the assessee in respect of the relevant period....", and . relevant period means the period during which the said accommodation was occupied by the assessee during the previous year. |
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