28 March 2009
I work on contract basis with software firms. I need feedback regarding my tax calculation.
How do i calculate my HRA and Tax when i'm paid lumpsum by any firm. It is 50,000 per month and i was on contract only for 7 months.Before this, I worked elsewhere for 15,000 per month for 4 months.
I paid 6,500 per month as rent at noida. The total income was 4,10,000 and TDS (tax deduction at source was 10.3% at both the places) how much do you think would be my HRA??
29 March 2009
GTI = Gross total income For the above section, GTI = Total income - deductions under chapter VIA - Long term capital gains - short term capital gains.
29 March 2009
Hi Nitin Now considering that there is no other income source other than that mentioned, total HRA for my income would be 24,000. Am i right?
CAclubindia
