Hra calculation

This query is : Resolved

Raja (Querist)
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03 July 2013 I have few query mentioned below

Excel sheet attached for ready reference -

1 / - HRA Calculation -

If Basic Salary is 300570 (annually) (Apr to Jun - 24350/month and Jul to Mar - 25280/month)

HRA Paid for FY 2012-13 is 134694 (annually)

Rent Paid is 180000 (annually)

What will be my exemption for tax u/s 10 from Salary ?

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2 / - Do Arrears HRA also needs to be clubbed in current HRA

Current HRA - 134694 and Arrear - 8433

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3 / - I am also getting rebate of interest paid on house loan i.e. 150000/- (Max Limit)

Is there any limit on HRA if availaing this ?

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4 / - In my form 16 it is showing incorrect amount, how do I get this rectified and what documents do, I have to provide if I am doing e-filling online ?

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Rgds

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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03 July 2013 1.Exempted HRA Rs.120228 ( taken as non metro)

2.yes. HRA arrears also clubbed with HRA only

3. HRA & Housing loan(self occupied) cannot be claimed if the houses are same city

4.incase of anything not considered employer and you have proper documents and calculation, you can take in your ITR