15 November 2016
If an employee drawing monthly salary of Rs.30000 from a private limited company how much can be given as HOUSE RENT ALLOWANCE. Is there any limit on HRA ??
01 December 2016
Suppose
Basic 20400
HRA 8000
Transport Allowance 1600
Rent Paid Rs 10040.
Now assessee is liable to pay 0 tax even after earning Rs 360000 pa.
Is there any prob in this
01 December 2016
Yes, HRA you get Maximum Rs.8000/- P.M so CA Rs.1600/- PT Rs.200/- Rs.9800/- PM if work out it exceeds Rs.100000/- so your taxable limit is within taxable limit, so Taxable liability is Nil.