HRA Exemption
This query is : Resolved
12 March 2009
Suppose Mr A taken housing loan for a house which is in Baroda but he actually working in Surat and receiving HRA from P Ltd. Co.in surat.
Whether He can claim both
1) HRA exemption by Paying rent in Surat &
2) Repayment of loan
(Principal in 80C and Interest as
house loss )
pl provide the Act Back up for your answer with sections etc.
Whether He can claim both
1) HRA exemption by Paying rent in Surat &
2) Repayment of loan
(Principal in 80C and Interest as
house loss )
pl provide the Act Back up for your answer with sections etc.
12 March 2009
He can claim both.
provided he is getting HRA( House Rent allowance)
He is residing in a rental accomodation
He must not own a house at the place where he is living
The exemption will be least of the following
1. HRA received
2.The excess of rent paid over 10% of salary
3. 40% of salary in all place except Delhi,Calcutta, Bomay,& Madras where it is 50% of salary
provided he is getting HRA( House Rent allowance)
He is residing in a rental accomodation
He must not own a house at the place where he is living
The exemption will be least of the following
1. HRA received
2.The excess of rent paid over 10% of salary
3. 40% of salary in all place except Delhi,Calcutta, Bomay,& Madras where it is 50% of salary
12 March 2009
Yes. Please check the following link:
http://www.apnaloan.com/home-loan-india/taxdeductionbenefitsforhlhra.html
http://www.apnaloan.com/home-loan-india/taxdeductionbenefitsforhlhra.html
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?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- 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
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
