Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 August 2011
plz explain HRA provision
14 August 2011
from hra received in salary
1 Actual HRA received
2 40% of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
=remaining hra taxable
~if employee not paid any rent then all hra taxable as salary
HRA applicable if employee live in rented house and paid rent
least of the following will be reduce from hra received in salary
1 Actual HRA received
2 40% of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
=remaining hra taxable
~if employee not paid any rent then all hra taxable as salary
1 Actual HRA received
2 40% of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
=remaining hra taxable
~if employee not paid any rent then all hra taxable as salary
HRA applicable if employee live in rented house and paid rent
least of the following will be reduce from hra received in salary
1 Actual HRA received
2 40% of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
=remaining hra taxable
~if employee not paid any rent then all hra taxable as salary
14 August 2011
I agree with the expert but for Metro Cities it is 50%
15 August 2011
Least of the following will be exempt for tax:
1 Actual HRA received
2 50% (for metro)/40% (for non-metros)of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
HRA in excess of least of above three will be taxable
1 Actual HRA received
2 50% (for metro)/40% (for non-metros)of basic salary + d.a.
3 10% of excess rent paid over basic salary + d.a
HRA in excess of least of above three will be taxable
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