Hra exemption
in lieu of the new income tax rule of 2013 that it becomes mandatory for a person to disclose the PAN number of his/her landlord if he /she is claiming having actual rent paid in excess of 1,00,000 rupees.
I have a query in this regard-
If i claim a house rent paid of 8300 per month amounting to a total rent paid per annum of -99600
my basic -46100
my DA- 51863
my HRA-28813
First question is whether NPA will also be added to the DA as I am a doctor in a government hospital?
If not can any one provide me a link with the actual site of income tax from where I can take a print out of the order.
If I claim the above mentioned rent paid
then for exemption being asked under HRA from total salary would be calculated by which formula?
if by -actual rent paid - 10 % of (basic+DA) then by this formula in my case the amount comes out to be in negative ?
can there be such a case where the HRA exemption can be negative. please help me in my case.
I would like an answer to my query as early as possible.
thank you
Dr.Anshuman Singh
9540946870
2. For the circular, please refer Page 25 of the link given
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=CIR&schT=&csId=ebe64185-2729-4f28-b43a-2357654b8553&crn=&yr=2013&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws
my HRA is -28813 pm
Guest
AND COMING TO YOUR NEXT QUESTION YOU CANT CLAIM ANT EXEMPTION OF HRA AS IT COMES RENT PAID - 10% OF SALARY A NEGATIVE FIGURE.
SO HRA IS FULLY TAXABLE IN YOUR CASE.
better provide him with a complete logic on all the three conditions.
Guest
Guest
we consider narrow salary i.e Basic + DA {forming part of retirement benefit} + Bonus + Commission on turnover..
1.HRA 28813
2.8300- 10 percent of 97963 {DA+ BASIC}
={1496}
3. 50 percent of HRA 28813.. i.e 14406
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