total recieved 18204
total paid 36000
180000 is basic salary.
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hra exemption
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HRA is exempted to the extent of least of the following.
1.H.R.A actually received.
2.40%of salary(50% in case of metro cities like Delhi,Kolkata,Chennai,Mumbai).
3.Rent Paid in excess of 10%of salary.
Assuming U live in a metro city.
Exemption available to u is
1.H.R.A actually received = Rs.18,204
2.50% of salary (1,80,000/2)= Rs.90,000
3.rent paid - 10%of salary.= 36,000-18,000=18,000.
Therefore exemption =18,000
Taxable H.R.A = 18,204-18,000=204
It has been assumed that u are been living on rent for the entire f.y.
Salary for H.R.A = Basic+D.A(if considered for retirement benefits)+Commission as fixed %of turnover.
1.H.R.A actually received.
2.40%of salary(50% in case of metro cities like Delhi,Kolkata,Chennai,Mumbai).
3.Rent Paid in excess of 10%of salary.
Assuming U live in a metro city.
Exemption available to u is
1.H.R.A actually received = Rs.18,204
2.50% of salary (1,80,000/2)= Rs.90,000
3.rent paid - 10%of salary.= 36,000-18,000=18,000.
Therefore exemption =18,000
Taxable H.R.A = 18,204-18,000=204
It has been assumed that u are been living on rent for the entire f.y.
Salary for H.R.A = Basic+D.A(if considered for retirement benefits)+Commission as fixed %of turnover.
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