HRA (Urgent)
This query is : Resolved
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?
His last salary from previous employee upto 18 March.
My qu. is which amount will be exempt & Taxable for the purpose of HRA?
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)
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)
Message likes :
1 times
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
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
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Bogus purchase treatment for it act gst dealer
- Gst input for FY 23-24
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
