Hra exempt deduction procedure

Tax planning 188 views 5 replies
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Finance
4545 Points Joined September 2020

Hi

Salary 350000 pa. 5% tax slab. 5000 IT payae plus 4% cess on it gives 5200 tax payable on salary. HRA exempt for non metro rent is 30000 pa and east of the three is 1333 per month.

Can I take this hra exempt amount from income tax payable amount? 5200-1333= 3866 tax payable? 

Txd

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On 07 January 2023 at 10:58 Report
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CFO- at NHTF
58275 Points Joined August 2012
HRA exemption can't be deducted from tax payable of 5200/-

HRA exemption has to be deducted from HRA component in Salary
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On 07 January 2023 at 11:16
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27922 Points Joined May 2017
Sec 10(13A) RULE 2a
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On 08 January 2023 at 08:12
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tax consultant
3306 Points Joined October 2018
Yasasvi an exemption can be claimed from the amount of income.

a reduction from tax amount is generally called rebate
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On 09 January 2023 at 10:00
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27922 Points Joined May 2017
The querist has not asked for the following :
1. difference between exemption and deduction.
2. procedure
is simple rent receipt. metro city which place?
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On 11 January 2023 at 21:32
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CFO- at NHTF
58275 Points Joined August 2012
The query is about to reduce tax from HRA exemption but it can't be done .

Tax on HRA can be deducted for total tax liability
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On 12 January 2023 at 07:36


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