Menu
HRA exemption
if an assessee is a salaried employee and he pays aren't of Rs. 7500/- pm In Y category city. His basic pay is ₹1.00lakh per month. whether he can exemption u/s 10 (13A) of the Act.
Replies (6)
Quick Summary
Didn't get you in 2nd para
Person with one lakh per month salary staying in a rented house of Rs.7500/- pm in Mangalore
As per the 3 conditions laid idown n Rule 2 of the Act, the amount of rent per year is very less.
So, whether he can claim exemption u/s 10 (13A) of the Act.
As per the 3 conditions laid idown n Rule 2 of the Act, the amount of rent per year is very less.
So, whether he can claim exemption u/s 10 (13A) of the Act.
If you get a hra from employer and have living in a rented house you can claim Deduction
1st -actual hra received
2nd- 40%of basic salary
3rd- excess of rent paid over 10% of salary
Which ever is least is your exemption
I don't know your hra or cannot calculate so you see what is the least amount among three and deduct
But my point is it is less than the least amount specified. In such a case is it allowabale exemption
Rent is less than the least amount you mean that
Rules are not changed it will be exempted the above way
Recent Topics :
- Late Fees and Interest
- HDFC Bank’s Bureaucracy: The Nightmare of Fl
- Running a CSC Center, Maha E-Seva Kendra, Setu Ken
- GSTR-9 Table 8A issue
- CA Inter Coaching institutes at Hyderabad
- Looking for practising CA
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
Related Topics :
CAclubindia
