25 July 2011
Last year I have worked in 2 different companies:- 1st Job - April'2010 to 15thOct'2010 ; 2nd Job -16thOct'2010 to Mar'2011. I forgot to submit "rent receipts" to first company during exit. I had furbished rent receipts for full year to 2nd employer. Total rent paid last year FY2010-11 is Rs. 98500/- ; First employer has not considered / mentioned HRA in Form16 ; Second employer has considered / mentioned only Rs. 54,000/- approx in Form 16/- . My total HRA eligibity from both employers is much higher. City - Bangalore. My Queries :- 1)Can the rent component during the "First employer's" period (April'2010 to 15th Oct'10)be shown as HRA during filing IT returns...? Approximately - Rs. 44,500(98500-54000) 2)How do we do it..?? What is the procedure..?? 3) Some people said, if HRA by first employer is not mentioned in Form16, then we cannot claim during filing IT returns..?? Instead, advised me to claim "RFA" (Rent Free Accomodation) amounting to maximum of Rs. 2000/- per mont for maximum 6 months...??
Pls advice as I have only few more days before 31stJuly..
25 July 2011
Hi, You can not be imaginative in the issue of form 16.u have to go thru the terms/breakup of your salary with employer A & if HRA component is there,Get form 16 revised & do file return.
25 July 2011
Dear Aditya, Thank u for ur advice. Yes, my salary slips with first employer has HRA component included. But it is not shown in Form 16 by first employer...? Pls advice..
All I want to know is :- 1) I have paid Rs.98500/- as rent last year (FY 2010-11). 2)My HRA component is much higher than the above amount of rent paid. 3)My First employer has not shown/included this in Form16...?? 4)My First employer's salary slip has HRA included in the salary slips. 5)My second Employer has included only Rs.54,000/- in Form16. 6)My query is - can the remaining amount of rent paid -Rs.44500/- be included in the calculation for filing returns...??? If yes,pls advice on the procedure...
25 July 2011
If you have all the pay slips then total them all or if the last pay slip has year to date figures then the same can assist you in calculating HRA as per section 10(13A)
25 July 2011
All, I guess rectifying the Form 16 from previous employer will be difficult & time consuming as their HO is in Mumbai. I have all the "salary slips" & "tax statement" from previous employer for the period April'2010 to Oct'2010 which clearly shows the "HRA component paid.