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HRA Exemption

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 April 2010 If in HRA under Salary the least Amt. becoes -ve,what is the exemption limit??
Plz. answer as soon as possible.
e.g.1)50% Or 40% of salary
2)The amt. of HRA Actually Received
3)Rent paid -10% of salary

Among the above three the least amt. is exempted,But say if the 3rd amt. comes negative,then being least what should be the exempted amt?????
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Rahul Gupta

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Rahul Gupta (Expert)
06 April 2010 Zero......
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
06 April 2010 Nil
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CA Kapil B Gupta

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CA Kapil B Gupta (Expert)
07 April 2010 Exempt amount will be zero. It means the actual amount of HRA received will be fully taxable.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
07 April 2010 AGREE
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CA.Nikhil Gupta

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CA.Nikhil Gupta (Expert)
07 April 2010 agree
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
08 April 2010 agree.Exemption is Zero
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
10 April 2010 agree.Exemption is Zero. if 3rd amount comes to zero, still no exemption of HRA
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