Hra
Querist : Anonymous
Mr. A pay rent Rs. 7500/- p.m. from April 11 to Mar 11. & submit the rent receipt to company.
Please let me know how to calculate HRA exemption under this if a person doesn't work from apr 11 to mar 12. but where as he join during the year.
1. Actual HRA received i.e. Rs.96000
2. Rent Paid minus 10% of salary
(90000) - (10% of 192000) = 70800
3. 50% of salary
( 50% of 192000) = 96000
Since the least amount is Rs. 70800, it is exempt and the balance of Rs (96000 - 70800) = Rs.25200 is taxable.
Assumptions: 1. As you have not mentioned about DA, I have assumed that DA is not being received or if it received, it do not form part of salary for retirement benefits.
2. As you have not mentioned about the city where the HRA is being given, I have assumed that your city is one of the metropolitan cities. In case you live in a city other than a metropolitan city (Mumbai, Kolkata, Chennai and DelhI), take 40% instead of 50%.
Thanks.
1. Actual HRA received (50% of basic if lives in metropolitan city (Mumbai, Kolkata, Chennai and DelhI) Otherwise take 40% here i am assuming that your city is one of the metropolitan cities.
Rs. 8000*9=72000/-
2. Rent Paid minus 10% of salary
(90000) - (10% of 144000) = Rs.75600
3. 50% of salary
( 50% of 144000) = 72000
Since the least amount is Rs. 72000, it is exempt
IF HE IS NOT LIVING IN A METROPOLITAN CITY
THAN Actual HRA received
9*(16000*40%)=9*6400
= Rs. 57600/-
And it (Rs.57600/-) will exempt.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
1. Actual HRA received (50% of basic if lives in metropolitan city (Mumbai, Kolkata, Chennai and DelhI) Otherwise take 40% here i am assuming that your city is one of the metropolitan cities.
Rs. 8000*9=72000/-
2. Rent Paid minus 10% of salary
(90000) - (10% of 144000) = Rs.75600
3. 50% of salary
( 50% of 144000) = 72000
Since the least amount is Rs. 72000, it is exempt
IF HE IS NOT LIVING IN A METROPOLITAN CITY
THAN Actual HRA received
9*(16000*40%)=9*6400
= Rs. 57600/-
And it (Rs.57600/-) will exempt.
Abhishek Ranjan Singh
ARS Solutions
email2ars@gmail.com
+91 9022838615
Querist : Anonymous
But What if didn't get HRA for the period from April 11 to June 11 even in his previous job. Then also he HRA is exempt72000/-.
Rent paid April 11 to March 11
it is 2010, 2011 or 2012
Querist : Anonymous
If Mr. A Join Co. on 1st July 11. He get Basic + DA Rs. 16000 & HRA Rs. 8000 p.m.
Mr. A is paying rent Rs. 7500/- p.m. for the month from April 11 to Mar 12. & he will submit the rent receipt to our company for the above period.
Mr. A also informed that He didn't get HRA in his previous job.
Please let me know how to calculate HRA exemption under this ? Where is submitting the rent receipt for Apr 11 to Jun, but he didn't get HRA from previous co.
Is it deduction U/s 80GG applicable here also ? He didn't get HRA for Apr 11 to Jun 11, then how much deduction is applicable.
Pls give me full working.
Thanking you
Querist : Anonymous
If Mr. A Join Co. on 1st July 11. He get Basic + DA Rs. 16000 & HRA Rs. 8000 p.m.
He lives & working in Mumbai.
Mr. A is paying rent Rs. 7500/- p.m. for the month from April 11 to Mar 12. & he will submit the rent receipt to our company for the above period.
Mr. A also informed that He didn't get HRA in his previous job.
Please let me know how to calculate HRA exemption under this ? Where is submitting the rent receipt for Apr 11 to Jun, but he didn't get HRA from previous co.
Is it deduction U/s 80GG applicable here also ? He didn't get HRA for Apr 11 to Jun 11, then how much deduction is applicable.
Pls give me full working.
Thanking you
Please provide me his working city is it METROPOLITAN CITY or not a METROPOLITAN CITY?
Please provide me his working city is it METROPOLITAN CITY or not a METROPOLITAN CITY?
Querist : Anonymous
He is Working & Staying in Mumbai.
1. Actual HRA received
Rs. 8000*9=72000/-
2. Rent Paid minus 10% of salary
(90000) - (10% of 144000) = Rs. 75600
3. 50% of salary
( 50% of 144000) = 72000
Since the least amount is Rs. 72000, it is exempt
80GG is not applicable
Querist : Anonymous
I also want to know if He didn't get HRA for the month Apr 11 to Jun 11, but he submit his rent receipt for the same period. Then this also consider while calculating HRA ? since his hra start from July 11 & onwards.
Or we have to consider Rent paid/ receipt for the period from July 11 to Mar 12,
Querist : Anonymous
If Mr. A get Salary for the month of Apr 11 to June 11, and his Salary for the same period doesn't include HRA, then Rent Receipt for the month of April 11 to Jun 11 to be considered or not for HRA Calculation ?
Thanking you
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