confusion on H.R.A.
This query is : Resolved
22 May 2011
sir, i am a government basic teacher in U.P. my total salary is ( stantive pay 194729+61318 D.A.) 278087 during financial year 2010-2011 and H.R.A. given by department is 22040. i have attached receipt of H.R.A. of 36000 along with my form no. 16 and i have paid3000 as advanced tax. plz calculate my income tax ? because i do not know calculation with H.R.A.?
23 May 2011
There are three conditions:
1. House rent received: 22,040
2. House rent paid: 36000
3. House rent paid-10% of salary: 36000-27808=8,192.00
The least of the three i.e 8198.00 only will be exempt
1. House rent received: 22,040
2. House rent paid: 36000
3. House rent paid-10% of salary: 36000-27808=8,192.00
The least of the three i.e 8198.00 only will be exempt
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