Query on HRA and Leave Encashment

This query is : Resolved

Guest

Guest (Querist)

08 July 2010 Hi Sir,
i am a salaried professional working in Private Sector IT company.I changed my job last year in october'09.I have following two queries regarding tax exemption.

1)At the time of separation,i missed on submitting the rent receipts. Now my current employer has considered the rent receipts only for the period with him(Oct'09 to Mar'10).Can i claim HRA exemption for the period apr'09 to sep'09 while filing IT return? To whom should i approach with my apr'09 to sep'09 rent receipts and which ITR form should i fill?

2) I got an amount of 22K as leave encashment in my full and final settlement at the time of separation with previous employer.I read in your blog that this amount is tax exempted Under section 10(10AA).My previous employer has deducted Tax on this amount also.Can i claim exemption on this amount while filing returns?

Should i seek any help of a tax consultant or can i do it myself? Last year i filed IT returns online myself.

thanks in advance.Waiting for your response.

br,
sandeep

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 July 2010
1. You can claim the HRA based on the rent receipt of yours in your return

2.Leave encashment also can be claime according to sec.10(10AA) in your return

Guest

Guest (Querist)

08 July 2010 Hi Ramesh,
Thanks for quick response.
do i need to submit my rent receipts to IT department? if yes, How do i do that?

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CA.Mini

CA.Mini (Expert)
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08 July 2010 yes.if you r paying rent and HRA is not allowed from apr-oct then for that period u can claim deduction u/s 80GG

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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08 July 2010 Rent receipt not required to attach with returns and not give to IT Dept also. On demand while assesment may be provide. Dear Mini,Sec.80GG irrelavance for this case because he is received HRA .so he need to calculate HRA exemption only

Shudhanshu Agrawal

Shudhanshu Agrawal (Expert)
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09 July 2010 Agree with Mr. Ramesh. Sec 80GG has nothing to do in this case. Both the exemptions will be available according to the provisions. It is better if you file your ITR through a CA.

In your case Saral II shall be used for filing ITR.

With the ITR there is no attachment required.