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how too calculated HRA
Replies (2)
1.basic+commission+bonus
2. basic / 10% of amount you have received by company as a house rent we consider which ever lower
3. 40 or 50% deduction is depend on your situation ( delhi,mumbai, Kolkata,channai if your reside is situated in cities you are come to in 50 % slabe other than 40)
2. basic / 10% of amount you have received by company as a house rent we consider which ever lower
3. 40 or 50% deduction is depend on your situation ( delhi,mumbai, Kolkata,channai if your reside is situated in cities you are come to in 50 % slabe other than 40)
for the purpose of computation of HRA salary shall mean basic salary, dearness allowance(forming part of retirement benefits) and commission as a percentage of turnover.
the least of the following shall be exempt
1. actual HRA received.
2. rent paid-10% of salary
3. 50% of salary if the person lives in Chennai, Mumbai, Delhi, Kolkata. in case of the rest of the cities it is 40%
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