I had received amount towards reimbursment of rent from company of Rs. 6000/- but I am actually paying Rs. 10000/- toward rent to my landlord now my question how much amount to be added in my gross salary as a perquisite and how I am able to avail maximum deduction via- HRA or any other section of the Income Tax Act.1961.
06 March 2010
there is 3 conditions for calculation HRA exemption: 50% (if live in Delhi, Kolkatta, Mumbai, Chennai) or 40% (other) of salary. Salary means Basic+DA if according to term of employment + % base commission. 2 HRA receive 3 excess of rent paid over 10% of salary
so in your case rent is 10000/- and HRA is 6000/- (it should not be reimbursement it should be HRA in salary slip) I assume you live in Metrol city so 50% of salary case your basic should be 12000 or more but not more than 40000/-. I assumed you didn't get DA or % of commission. in this case if basic is 20000 then least of below is exempt 1 10000 2 6000 3 8000 so full HRA is exempt if you have other query you can mail me on prashantgupta2002@gmail.com or in my inbox of caclubindia
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