Kindly Help in Calculation of HRA

Hi Surendra,

                           Here salary means Salary as per "Gestetner Duplicate"

Salary Includes Basic Pay + Dearness Allowance (If as per Service condition) + Commission based on Turn over.

Least of the following is exempt

1 Actual HRA

2 Rent paid - 10% of Salary

3 40% or 50% of Salary

Here 50% for the employes lived at Any of these place

Mumbai, Culcatta, Chennai, Delhi

otherwise take 40% of Salary.

Salary includes Basic + DA+fixed commission on turnover of the company

for eg.

If a person get salary 240000/- per annuam and bifurcation of the same is basic 7000/- pm, hra 3500/- pm, DA 3000/- pm, transport allowance 800/- pm, special allowance 5700/- pm. he is paying rent 4500/- per month in metro city (like Delhi, Mumbai, Chennai) HRA Calculation is as given below:

1st Condition : Excess of Rent paid over 10% of Salary

3500-2000=1500/-

IInd Condition : 40% or 50% of salary

10000/-

IIIrd Condition: Actural HRA Received

3500/-

So least of the above three condition is Rs. 1500/- per month

hence you can get exemption for Rs. 18000/- per annum

Originally posted by : Amit Sarawgi
	Hi Surendra,                            Here salary means Salary as per "Gestetner Duplicate" Salary Includes Basic Pay + Dearness Allowance (If as per Service condition) + Commission based on Turn over. Least of the following is exempt 1 Actual HRA 2 Rent paid - 10% of Salary 3 40% or 50% of Salary Here 50% for the employes lived at Any of these place Mumbai, Culcatta, Chennai, Delhi otherwise take 40% of Salary.

agree.

Thank you very much to all of you for providing a priceless information to me...

reallly i was very confused regarding this... Thanks once again.... 

Originally posted by : Harpreet
	Salary includes Basic + DA+fixed commission on turnover of the company for eg. If a person get salary 240000/- per annuam and bifurcation of the same is basic 7000/- pm, hra 3500/- pm, DA 3000/- pm, transport allowance 800/- pm, special allowance 5700/- pm. he is paying rent 4500/- per month in metro city (like Delhi, Mumbai, Chennai) HRA Calculation is as given below: 1st Condition : Excess of Rent paid over 10% of Salary 3500-2000=1500/- IInd Condition : 40% or 50% of salary 10000/- IIIrd Condition: Actural HRA Received 3500/- So least of the above three condition is Rs. 1500/- per month hence you can get exemption for Rs. 18000/- per annum

 THANK YOU VERY MUCH

Salary Includes Basic Pay + Dearness Allowance (If as per Service condition) + Commission based on Turn over.

This is correct. . . .I too studied HRA ,salary today :)

hi Surendra, commission is added to salary ONLY IF it is paid as a percentage of Turnover.

If it is fixed amount, it does not fall within the definition of salary for the purpose of HRA.

rest all, mentioned above is correct.

i m 100% agree wid Harpeet....

salary Includes Basic Pay + Dearness Allowance (If as per Service condition) + Commission based on Turn over.

Least of the following is exempt

1 Actual HRA

2 Rent paid - 10% of Salary

3 40% or 50% of Salary

Here 50% for the employes lived at Any of these place

Mumbai, Culcatta, Chennai, Delhi

otherwise take 40% of Salary.

thank u sir,

sir, if one has his salary Rs.5 lac and it includes basic, DA, Hra, medical, travel Allwnce and any other allowance also

then in this case we have to calculate 10% of salary on Rs.5 lac or on any other amount plz tell me...

Thank yu in advance

Originally posted by : akash gupta
	salary Includes Basic Pay + Dearness Allowance (If as per Service condition) + Commission based on Turn over. Least of the following is exempt 1 Actual HRA 2 Rent paid - 10% of Salary 3 40% or 50% of Salary Here 50% for the employes lived at Any of these place Mumbai, Culcatta, Chennai, Delhi otherwise take 40% of Salary.

hi

Are you eligible for deduction under HRA.We have designed and prepared this article to make you understand how you can claim tax deduction for HRA.

thank you

regards,

phe9oxis,

hi

Are you eligible for deduction under HRA. We have designed and prepared this article to make you understand how you can claim tax deduction for HRA.

thanks

regards,

phe9oxis,

Originally posted by : ajithasai
	hi Are you eligible for deduction under HRA. We have designed and prepared this article to make you understand how you can claim tax deduction for HRA. thanks regards, phe9oxis, htp://www.guidebuddha.com.

 Thank you so much...