Hra exemption
This query is : Resolved
12 January 2018
One of the employee getting 25,000 BASIC and received 5000 as HRA per month.That employee received HRA for FOUR months only but paid the rent 4000 for the whole year(12 months).
as per HRA exemption:
1. A. 5000 x 4 = 20000 (HRA received)
B. 50% of Salary(300000 x50/100) 150000
C. Rent paid(4000 x 12) 48000 - ?
my question is rent paid minus 10% salary here 10% salary means 10000(4 x 25000*10%) or 30000(12x25000*10%)
please guide me thanks in advance
as per HRA exemption:
1. A. 5000 x 4 = 20000 (HRA received)
B. 50% of Salary(300000 x50/100) 150000
C. Rent paid(4000 x 12) 48000 - ?
my question is rent paid minus 10% salary here 10% salary means 10000(4 x 25000*10%) or 30000(12x25000*10%)
please guide me thanks in advance
13 January 2018
5000 X 4 =20000
50% of 100000 = 50000
16000 - 10000 =6000
therefore hra exemption allowed Rs 6000
50% of 100000 = 50000
16000 - 10000 =6000
therefore hra exemption allowed Rs 6000
13 January 2018
But the employee taken salary for 12 months
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
