Hra calculation
This query is : Resolved
Guest
Guest
(Querist)
11 July 2012
Dear Experts
Salary received:396000
Hra recd: 180000
Rent paid 192000
person lives in mumbai...
Taxable Income???
Salary received:396000
Hra recd: 180000
Rent paid 192000
person lives in mumbai...
Taxable Income???
11 July 2012
1. Can you provide the details of your salary received in depth (latest CTC Copy or payslip)?
2. Basic Salary is require for HRA calculation.
3. Provide the investments details for your salary received to get an deduction by means of tax planning.
4. Do you have an acknowledgement for the rent paid of Rs. 192000. Otherwise,it is taxable income.
2. Basic Salary is require for HRA calculation.
3. Provide the investments details for your salary received to get an deduction by means of tax planning.
4. Do you have an acknowledgement for the rent paid of Rs. 192000. Otherwise,it is taxable income.
11 July 2012
Hra Exemption least from below
1 50% of Salary-33000/2=16500per month
2. Rent paid=16000-3300(33000*10%)=12700pm
3. Hra=15000 per month
Hra Exemption U/s =12700 per month
CAlcultaion of taxable salary
Salary=396000
Hra taxable=27600
(180000-152400)
Net Taxable salary=423600
1 50% of Salary-33000/2=16500per month
2. Rent paid=16000-3300(33000*10%)=12700pm
3. Hra=15000 per month
Hra Exemption U/s =12700 per month
CAlcultaion of taxable salary
Salary=396000
Hra taxable=27600
(180000-152400)
Net Taxable salary=423600
Message likes :
1 times
12 July 2012
i agreed with vishal
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
