IPCC Nov'10 RTP

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Why has overtime allowance not been considered while calculating "salary" for Rent free furnished house in Q.6

Replies (5)

For Rent free furnished house taxable portion of all allowances are taken.

I am aware of it.But the RTP solution doesnt consider the overtime allowance so I guess its a mistake in the solution

i think taxable i.e Rs.5300 HRA is also not considered...must be  a mistake..

no sneha HRA cannot be included as HRA is given for only two months when the RFA didnt exist...once he got RFA HRA was stopped so only overtime allowance is missing

all taxable allowances are to be included ....HRA(for 2 months only) after exemption u/s 10 (13 A)  is taxable...so it will also be taken into consideration...there is some dispute over this perquisite new valuation rules  between kolkata and mumbai branches...not sure exactly what the matter is but there is some confusion on part of ICAI here...

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