CAN HRA BE MORE THAN A BASIC SALARY ?
IF YES IS THIS OK
BASIC - RS 30,000
HRA - RS 45,000
PLEASE GIVE A DETAILED EXPLANATION
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INCOME TAX
Replies (2)
HRA can never be more than Basic Salary.
no h.r.a cannot be more than basic salary
as h.r.a is hose rent allowance which is given to employee of a company
and is deducted in sec10(13A) read with rule 2A
EXMPT LEAST OF THE FOLLING:-
40% OR 50% OF G.D( I F EMPLOYEE FROM MUMBAI,DELHI,CHENNAI AND KOLKATA)
A CTUAL HRA
RENT PAID - 10% OF G.D
G.D HERE MEANS
BS + DA( FORMING PART OF SALARY)
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