Perquisite - toward accomodation F.Y 09-10

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akbar (Querist)
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06 March 2010 Sir,

Income Tax ( Perquisite) F.Y 2009-10

I had received amount towards reimbursment of rent from company of Rs. 6000/- but I am actually paying Rs. 10000/- toward rent to my landlord now my question how much amount to be added in my gross salary as a perquisite and how I am able to avail maximum deduction via- HRA or any other section of the Income Tax Act.1961.

Plz Suggest at the earliest.

CA Prashant Gupta

CA Prashant Gupta (Expert)
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06 March 2010 there is 3 conditions for calculation HRA exemption:
50% (if live in Delhi, Kolkatta, Mumbai, Chennai) or 40% (other) of salary. Salary means Basic+DA if according to term of employment + % base commission.
2 HRA receive
3 excess of rent paid over 10% of salary

so in your case rent is 10000/- and HRA is 6000/- (it should not be reimbursement it should be HRA in salary slip)
I assume you live in Metrol city so 50% of salary case your basic should be 12000 or more but not more than 40000/-.
I assumed you didn't get DA or % of commission.
in this case if basic is 20000 then
least of below is exempt
1 10000
2 6000
3 8000
so full HRA is exempt
if you have other query you can mail me on prashantgupta2002@gmail.com or in my inbox of caclubindia