chetan (accountant) (321 Points)
29 June 2011Hi friend
Please give me HRA calculation on below details. Mr. A has paid rent 18000/- P.A. how much HRA exemption he get. The person is living in Mumbai.
Annual salary breakup
Basic- 59962
HRA- 29981
conveyance-8721
speical allowance-86378
leave encashment 2933
monthly incentive-85448
insurance incentive-13561
Total 286984
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 29 June 2011
Exemption Can be avail whichever is lower
1. Hra Received = 29,981/-
2. 50% of salary = 29,981/- (50% in case of Delhi., Mumbai, Calcutta, Chennai , in other City 40% of salary)
3. Rent paid - 10% of salary = 12,003.8/-
Exemptiopn Can be Given Rs. 12,003.8/-
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 29 June 2011
leat of following is exempted u/s 10 (13a) read with rule 2a
actual hra=29981
rent paid- 10% of salary= 18000-5996,2= 12003.8
40% of salary=59962*40%=23084.8
hence exempted amt.= 12003.8
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 29 June 2011
leat of following is exempted u/s 10 (13a) read with rule 2a
actual hra=29981
rent paid- 10% of salary= 18000-5996,2= 12003.8
50% of salary=59962*40%=29981
hence exempted amt.= 12003.8
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 29 June 2011
salary for the purpose of hra= basic salary+ d.a (which enters)
CA Rajdeepsinh Kanchava
(Senior accountant at KPO)
(736 Points)
Replied 30 June 2011
Aparna Raja K.C
(Student)
(520 Points)
Replied 30 June 2011
| Originally posted by : future ca | ||
 |
leat of following is exempted u/s 10 (13a) read with rule 2a actual hra=29981 rent paid- 10% of salary= 18000-5996,2= 12003.8 50% of salary=59962*40%=29981 hence exempted amt.= 12003.8 |
 |
Agree :)
CA Rajdeepsinh Kanchava
(Senior accountant at KPO)
(736 Points)
Replied 30 June 2011
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 30 June 2011
| Originally posted by : Rajdeepsinh | ||
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SORRY 3RD WILL BE 50% OF 59962 that is 29981 but still answer will be the same. |
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i have given corrected answer secondly. thanks for noticing
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 30 June 2011
| Originally posted by : future ca | ||
|
|
leat of following is exempted u/s 10 (13a) read with rule 2a actual hra=29981 rent paid- 10% of salary= 18000-5996,2= 12003.8 40% of salary=59962*40%=23084.8 hence exempted amt.= 12003.8 |
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surbhi
(student)
(22 Points)
Replied 30 June 2011
HRA calculation will be as follows:-
HRA recieved 29981
minimum of three is exempt ..........
1)actual HRA: recieved :- 29981
2)50% of salary :- 59962 *50% 29981
3)rent paid - 10% of salary :- 18000 - 10% of 59962 12003.8
exemption - 12003.8
HRA- 17977.2
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
