HRA (Urgent)

This query is : Resolved

Vaibhav (Querist)
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05 April 2011 If any person join a company 28 March & his basic salary of 4 days is 3214 & HRA 1607.he paid rent 9000 Per month.
His last salary from previous employee upto 18 March.
My qu. is which amount will be exempt & Taxable for the purpose of HRA?

CA Navin Jain

CA Navin Jain (Expert)
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05 April 2011 WHICHEVER IS LESS OF FOLLOWING

RS. 1607 50% OF BASIC
OR

RS. 1607 ACTUAL RECEIVED

OR

RS. 879 (CALCULATE RENT PAID FOR 4 DAYS AND LESS 10% OF BASIC PAY)

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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05 April 2011 You should have a clarity on how much HRA benefit he got from past employment...

See in any case... total HRA recd (from past & your company) should be taken into consideration

For the month of March.... you can :
Add Basic salary from both company
Add HRA from both company
Rent paid = 9000/-

Now you can go ahead according the normal HRA deduction rule under Income Tax

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